Bradesco Seguros: President Luis Carlos Trabuco

If you could listen to different people who talk about Luis Carlos Trabuco, they don’t only give his a description as known Executive Officer. That is what a mythical dynasty means. In the last 70 years, it came a time when Bradesco Organization became very successful, it was not other than Luiz Carlos Trabuco success. He has been the fourth president of the organization before he came to retire. Holding the presidency of the company has been a long lineage where Amador Aguiar started it. A position which can be described as having the power that is unquestionable. It is being given responsibilities of leading the largest financial institution which is located in Latin America. The assets of the company are worth more than R $ 900 billion and it also has 27 million people who hold the accounts with the institution.

Having been born in Marilla, he went for his studies at Sao Paulo. The organization awarded him with Science and letters after being in the faculty of Philosophy. He later went for further studies at Fundacao School to pursue a post graduation course where he was awarded Socio-Psychology wherein the institution majors in sociology and politics. After he was done with education, he started up his career in 1969 and he was just 18 years old by that time. He has been able to pass through diverse positions in his career time.

Read more: Bradesco deve anunciar sucessor de Trabuco antes do Carnaval

While in Bradesco Seguros, the organization made him department director in 1984 and some years later after showing progressive work, he was made Executive Managing director in 1998. in a years time, he had already become the organizations Executive Vice president. He worked as the vice until when his promotion came and he was made the bank’s president.

During the working time at Bradesco Seguros, Luiz Carlos Trabuco management made the success of the bank to be achieved. In a period of 6 years only, the bank assets had already doubled from where it was R $32 billion in the years 2003 and by 2008 fiscal year it had over assets worth R $ 78 billion. After he had worked for only one year, the bank’s equity increased from previous year of 22% to $29% and this was his trend until his retirement period. He never had a rate falling 27% and as the bank participated in the group, it had its results increase from 26% rising to 35%.

There was performance leverage when selecting the replacement of Luiz Carlos Trabuco. It took him and other conclave members time when deciding to select the successor before they concluded Marcio Cipriano. That was their enormous responsibility. The president of Bradesco Seguros, after Luiz Carlos Trabuco was given to Lazaro Brandao who was the next respected banker in the country.

During his long period of work, his management had a notable organic growth of the bank. The bank had increased with the account holders from 20 million up to 27 million which was seen as the greatest achievement according to oglobo.globo.com. He also had contributed greatly in service network agencies that increased from 3,500 to 5,000.

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Luiz Carlos Trabuco Bradesco

The news of the executive Lazaro de Mello Brandao leaving the office of the presidency of the Boards of Directors of Bradesco hit the market as a surprise. Although he would remain to be at the forefront of the holdings group, the announcement left a lot of speculation from the news announced by the company.

That decision led to a chain of similar choices, and with Brandao out of the Council, Luiz Carlos Trabuco held the position of the presidency but anticipates another change that could happen in 2019. The Chief executive officer, according to the Bank’s statute, the president should retire at 65 years, a year less than Trebuchet’s current age after he won a waiver until next year, which will not be fully exercised.

The new CEO of Bradesco will be chosen in March 2018. However, though, as the Conference announcement had it pointed out, the Trebuchet choice can happen before this date. He described that for the succession to occur specific processes must take place, and that by then the choosing had not taken place. To second his claims, the organization is vast and complex, segregated at the same time and the attributes also reflect on the selection of a professional that will succeed the current president.

Although the announcement of retirement from office came as a surprise, there was always a succession plan cultivated through the history of the firm. The analysts say they observed that the integration of HSBC Brazil is already over (regarding the inclusion of systems) and represented the final great design and acquisition of Trabuco.

Read more : Bradesco to Choose Board Member as New President, says Trabuco

Despite all the assuredness, the dispute is still ongoing among the rest of the six Vice Presidents of the institution. These are Sundays Figueiredo de Abreu, Vice President of Treasury and credit; Alexandre da Silva Glüher, investor relations officer; Marcelo de Araujo Noronha, responsible for millboard and investment bank. Others are André Rodrigues Cano, in charge of Human Resources; Joshua Augustus Pancini, Vice President responsible for all service network and by Prime and Octavio of Eduardo Barcelona Junior, President of Bradesco Seguros.

Some of the most experienced are Glüher, crucial in the integration of HSBC and one of the critical acquisitions in the history of the Bank, and Joshua Pancini, who is a long time Chair of Vice President. Theoretically, whom has more seniority would come out in front in the dispute. However, during the management Trebuchet, this criterion has less relevance.

The contest promises that everything will be hard to predict, but one thing is quite likely, says BofA: Trabuco will probably have a strong influence on the selection of a new CEO. Finally, we expect a somewhat integrated transition, for two primary reasons: 1) that Bradesco has talented individuals who occupied leadership positions in different areas of the group to assume the post of CEO and 2) the stable corporate governance structure of the Bank. But despite the quiet, the succession of Trebuchet is open! And the next steps must be watched closely by the market.

Luiz Carlos Trabuco has been the CEO of Bradesco Group since March 2009. Before that he served as the Managing Director of the firm, also serving as Vice President since 1999 March and departments director since 1984 to 1992. He started as a member of the Board of Directors since 1969.

Luiz Carlos Trabuco is a graduate of the School of Sociology and politics University, graduating from the faculty of philosophy, sciences, letters, and arts of the University of Sao Paulo. He serves as the CEO of Bradesco Seguros. With the company ushering in the campaign to see his replacement, the market should watch these moves closely.

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