Luiz Carlos Trabuco’s Career at Bradesco, Awards He’s Won, And More You Probably Didn’t Know About This Brazilian Banking Executive
Thanks to currency, investments, automated bill paying, storing valuable belongings, and getting paid, banks are highly important in today’s era. As such, only the creme de la creme, the cream of the crop, or the best of the best are hired to managerial and executory roles of financial institutions. This sentiment holds even more true for the larger and more important particular banks are, including the likes of Itau Unibanco and Bradesco, the latter of which has one of Brazil’s leading banking executives: Luiz Carlos Trabuco.
Mr. Trabuco was appointed Chief Executive Officer of Bradesco back in early 2009. Unlike a large portion of executives of large organizations, Luiz Carlos Trabuco found his way to the top of Bradesco by working from an entry-level position all the way back in 1969. Mr. Trabuco is known by most as the financial institution executive who pushed for the acquisition of the Brazilian assets and likeness of HSBC Bank, at the time belonging to the top ten banks in the entire South American country of Brazil.
In August of 2015, Luiz Carlos Trabuco was able to go through with paperwork and formalities with HSBC Holdings, edging closer to the finalization of the deal. This was made possible by the approval of the current Chairman of the Board at Bradesco, Lazaro Brandao, himself the second Chief Executive Officer of Banco Bradesco. The 5.2 billion dollar deal was closed in the early summer months of 2016 – South American summer season, that is – inching Bradesco that much closer to regaining its title as the largest bank in all of Brazil, a title that a merger between Banco Itau and Unibanco knocked Bradesco out of the running for in 2008.
Even further, the acquisition of HSBC by Bradesco served a few other purposes. Keeping in mind that the merger that begat Itau Unibanco was a striking success, it made sense for Bradesco to gobble up the possibility of acquiring one of the largest banks in all of Brazil prior to another financial institution could.
HSBC Holdings, the parent company of the Brazilian banking system titled HSBC Brazil, wasn’t operating its South American operations very well, increasing the likelihood of it becoming available for sale in the years prior to and including Bradesco’s acquisition in 2015. Lastly, the level of growth its purchaser could capitalize off of made it silly not to acquire HSBC Brazil. In Bradesco’s case – keeping in mind that it’s the second-largest bank in Brazil – it gained a whopping six years of organic growth. If another financial institution had purchased HSBC Brazil, rather than Bradesco, it could have knocked Bradesco down to the ranking of third-largest bank in Brazil.
Combined, these factors made Luiz Carlos Trabuco’s decision a good one.
While most people familiar with Brazilian banking are familiar with the current career of CEO Luiz Carlos Trabuco, not everyone knows how he earned his contemporary title, what positions he held in the past, and what level of educational attainment he has – if any.
Mr. Trabuco graduated from the University of Sao Paulo’s Faculty of Letters, Philosophy, and Human Sciences with a degree in Philosophy. Soon after, he earned yet another degree, this time at the graduate level, in Socio-Psychology.
Combined, these two degrees boosted Mr. Trabuco’s ability to interact with others, helping advance his future career. He was hired on to Bradesco’s Marilia branch in 1969, two years later being offered a spot at the bank’s corporate headquarters in Osasco, the neighborhood in which he attended college.