There is something special about Brazil. Some people believe the confluence of different cultures made Brazil a melting pot of innovation and creativity. The country has all the natural resources any country could want, but for some reason, Brazilians always shoot themselves in the foot when it comes to keeping their economy on track. For the last three years, Brazil hasn’t been an emerging market on the upswing. Instead, the country hit with one economic bump after another, and Brazilian exports went to hell instead of to China and other countries. China cut bait with Brazil two years ago, according to the Bradesco CEO Luíz Carlos Trabuco, and that hurt Brazil’s economic growth. But Trabuco and other bankers say there are other circumstances that put Brazil on the bottom of the global economic growth ladder.
But all the economic negativity is old news. Brazil’s economy is recovering. The banks in Brazil are in growth mode as well. Banco Bradesco is the second largest private bank in Brazil, and Wall Street is telling investors to buy Bradesco stock. Bradesco’s profits are off the charts, and as Brazil’s economy grows, the banks grow, so 2018 is going to a good year for investors who own Bradesco stock. But some investors still worry about the government instability even though President Michel Temer is working hard to get Brazil’s political house in order. Some people say Temer is just as bad as the former presidents. But Luíz Carlos Trabuco and his executive are moving forward in spite of the rumors and the press articles that say Temer is in trouble.
Luíz Carlos Trabuco is a 66-year-old man on a mission. He wants Bradesco to be the best private bank in Brazil. And he put programs in place to make that happen. His Personas Project is giving the bank more information about consumer spending and needs. His team will use that information to make the bank more accessible in the future. Bradesco is a 5,000-branch giant with thousands of ATMs across the country and thousands of service centers. When Trabuco put the deal with HSBC to bed in 2015, it was game on to be the best service bank in the country. Bradesco’s main competition is another banking giant, Itaú. But Itaú doesn’t have Luíz Carlos Trabuco steering the banking ship through the ever-changing economic waters in Brazil.
Mr. Trabuco is one of those likable bankers who cares about his clients and his employees. He has a philosophy degree, so he’s not an accountant with a numbers-type personality, and he is not a financial planner who thinks more about money than anything else. Trabuco is a bank executive with experience and common sense. He went to work for Bradesco in 1969. Bradesco was a lot smaller back then, so Trabuco was able to learn the “ins and outs” of good banking practices as he went from one bank position to another. His banking breaks came in 1984 when he became a director, and in 1989 when he was a vice-president. The bank’s board knew his work ethic could help the insurance division, so he became the president of Banco Seguros in 2003.
Seguros was making a lot of money, and Trabuco got a lot of attention. At the end of 2008, Mr. Trabuco’s dream came true. The bank’s Board of Directors put Trabuco in charge of all bank operations as president. That move gave the bank a man in the front office who knows how to build a successful executive team and knows how to navigate the changing financial waters in the banking world.
For more information about Luis Carlos Trabuco, just click here.