Banco Bradesco is the second largest commercial bank in Brazil. Bradesco customer services, include individual and corporate banking services, deposit-taking activities, bank credit and debit card services, investment banking, leasing operations, consortium services and asset management. Bradesco has financial plans, pension plans, insurance, capitalization bonds and other typical banking activities. Wall Street is watching Bradesco stock, and more investors are buying Bradesco because the stock is up 14.4 percent in July and up more than 23 percent for the year.
Wall Street likes Bradesco right now and investors are betting Bradesco’s 66-year-old CEO, Luiz Carlos Trabuco, will end the year with an all-time profit record. Trabuco has a history of making money for the bank. He’s only had one employer since 1969, and that employer is Bradesco.
Trabuco didn’t think about banking when he was a philosophy student at the University of São Paulo. He earned an undergraduate degree in philosophy and then he went on to do postgraduate work in psychology at the School-partner de Sociologia e Política de São Paulo. He does not have an accounting or finance degree, but he went to work for Bradesco in 1969, anyway. Trabuco was a model employee. He was able to apply his psychology courses at the bank while he went through the bank’s training program. In 1984, the bank gave him the title of director, and that was the start of an incredible journey to the top position in the bank. In 1999, he became a bank vice-president, and in 2003 he took over as president of Bradesco’s insurance division, Banco Seguros.
Under Trabuco’s leadership, Banco Seguros became a major profit center for the bank. By 2009, Banco Seguros was generating 30 percent of the total bank’s profits. The Bradesco Board of Directors knew Trabuco was responsible for the success of that division, so he became the CEO of Bradesco in the fourth quarter of 2008.
Luiz Carlos Trabuco is a man on a mission. He is the former Chairman of the Board of Directors of Odontoprev S.A. and the former President of the Marketing of the Brazilian Association of Real Estate Credit and Savings. He is the current Vice-Chairman of the Board of Directors of Banco Bradesco and the Chairman of the Board of Directors of Elo Participações. Plus, Trabuco is the President of the Council of Representatives and the Executive Board of the National Confederation of Financial Institutions. Trabuco’s list of accomplishments continues to grow, and his standing in the Brazilian banking community is at an all-time high.
When Bradesco recently had an online glitch that brought branch services to a standstill, Trabuco’s IT team went to work to fix the issue. Mr. Trabuco wants to improve the bank’s existing tech platforms, and the recent glitch is making his effort a top priority. More Brazilians are using mobile devices and doing their banking online. Trabuco wants to give his customers the tech services they want and need. A spokeswoman for the bank said the technical staff was working to fix the glitch. No one is sure why the glitch had an impact on more than 5,000 bank branches, but Trabuco and his IT team are making sure it does not happen again.
Mr. Trabuco is a hands-on bank executive. He cares about Brazil. He tries to help all Brazilians. The bank is proactive when it comes to environmental issues. Luiz is active in several bank initiatives like Global Compact, the Carbon Disclosure Program, Companies for Climate Change and the Brazilian Green House Emissions Program. The bank’s educational initiative is also one of Mr. Trabuco’s priorities.