Luiz Carlos Trabuco is one of the most influential presidents of Bradesco Bank. He has been with the company for more than five decades, and under his leadership, several reforms were implemented within the company. One of the improvements that he pushed through is the establishment of new rules and regulations that are employee-centric, which would provide them with additional benefits.
The employees working for the Bradesco Bank welcomed the reforms that he introduced, and it made him one of the most loved leaders in the company. Another thing that he initiated was the acquisition of several financial institutions in the country, which allowed the company’s asset to grow exponentially.
The strategy of Luiz Carlos Trabuco to acquire financial institutions around the country stems from the aggressive growth of their rival bank, the merger of Banco Itau and Unibanco, which became a single company in 2009 called Itau Unibanco. The merging of two of their rival banks kicked them out of the position as the largest bank in Brazil regarding assets held and the number of investors. Luiz Carlos Trabuco wanted to return Bradesco Bank to its former recognition as the leading bank in the country, and he thought of the idea that acquiring smaller banks would give them a chance to beat Itau Unibanco.
However, Luiz Carlos Trabuco formed another plan, because he thought that acquiring small banks around the country would be enough for them to catch up. He soon realized that acquiring a larger financial institution would give Bradesco Bank an edge against Itau Unibanco, so he looked for some of the largest financial institutions in the country according to istoedinheiro.com.br. He chose HSBC Brazil to become a part of their company, so he offered them a letter which states his will to purchase the financial institution. At first, the executives working for HSBC Brazil turned down his offer, but he persisted and persuaded them to join the growing family of Bradesco Bank.
After months of persuasion, HSBC Brazil finally gave in, and HSBC was sold for $5.2 billion. It was among the largest transactions in the history of Bradesco Bank, and the board of directors approved the decision because they knew that Luiz Carlos Trabuco has a better plan for the firm. Moments after the transaction was published, investors started to shift their eyes to Bradesco Bank and poured in a lot of money because of the opportunities that would come along after the acquisition. In just a few hours, the value of the company in the stock market increased, and the board of directors thanked their brilliant president for his brave decision.
However, the current president of Bradesco Bank would now have to leave his position because he already reached the retirement age. He will be replaced by one of the youngest executives in the company, Octavio de Lazari Junior, and the board of directors believes that he will be able to exceed their expectations to transform Bradesco Bank for the better and make it the leading bank in the country.