While other Brazilian banks sought to grow through acquisitions, Banco Bradesco relied on its executive management and technological innovation to expand within the financial world. Bradesco has only purchased two banks since its inception in 1943. In 2009, Bradesco acquired Banco Ibi SA which saw an increase in assets. Now Bradesco, under the authority of Luiz Carlos Trabuco, was planning on purchasing HSBC Brazil. This takeover was bound to increase the company assets by 16 percent.
About Luiz Carlos Trabuco
Over the four decades at Bradesco, Trabuco Bradesco held several positions before becoming Chairman. He began as a bank teller at the Marilia branch at 18 years old and moved to the position of Marketing Director. While at this post, the company saw outstanding growth and his reputation in the banking world grew as well. Eight years later he was appointed President of Bradesco’s privately-owned pension firm.In 2003, he was elected by the Executive Board of Directors to be Vice President. Mr. Trabuco Bradesco became president of Bradesco Seguro in 2009.
Among his many achievements, Luiz Carlos Trabuco Bradesco took part in the launching of Bradesco’s shares in the New York Stock Exchange boosting the growth of the company to more than double its size. Also, during his tenure, the performance of the company shot up from 25% to 35%.In 2009, the same year he became president, Luiz Carlos Trabuco won the Don Quixote Trophy. He was named Entrepreneur of The Year in 2015, for finance and is on the Forbes Magazine 2016 List of Best CEOs in Brazil. Also,on Ultimo Segundo’s ranking Of The 60 Most Powerful of Brazil, he was in the 24th position.
Trabuco’s Educational Background
Luiz Carlos Trabuco Bradesco graduated from the University of Sao Paulo with both a degree from the Faculty of Philosophy and a post-graduate degree in Social Psychology. These studies are believed to be instrumental in shaping Trabuco into the man he is today. He is a native of Marilia, the birthplace of Banco Bradesco formerly known as Banco Brasileiro de Descontos.
Banco Bradesco is a technologically innovative giant in the Brazilian financial industry. It was founded in 1943 by Amador Aguiar to target retailers, small landowners, and government employees. It soon moved its headquarters from Marilia to Sao Paulo where it has been running from ever since. With over $74 billion in revenue, Banco Bradesco is considered one of the largest banking service providers in Brazil.