Grupo Bradesco has become one of the largest and most important banks in Brazil. As recently as 30 years ago, the banking giant was little more than a regional concern, with a few dozen branches. Today, the group has more than 5,000 branches serving 27 million customers across the entire country of Brazil. And through all of this, one man has overseen the incredible growth of the business.
A Legend of Banking is Born
At the age of just 16, Lazaro Brandao applied for his first job at a local thrift institution in the town of Oscasco, Sao Paulo. The year was 1943, and the only branch of the newly formed Bradesco was in its first full year of operation. Brandao was hired.
Over the next 75 years, he would go on to have one of the most spectacular careers in Brazilian banking, reaching the position of CEO by 1981 and becoming chairman of the board of directors in 1990, a position he still holds today. Between 1990 and 1999, Brandao acted as both the chairman and the CEO of the company, the only time in the bank’s history that both positions have been held by the same person on more than a temporary basis.
But it wasn’t Brandao’s personal rise that was so astonishing. It was the growth that the bank experienced under his watch. In 1981, Grupo Bradesco was still nothing more than a regional concern, with few dozen branches and only a few separate business lines. But over the next 36 years, Brandao oversaw the growth of the bank into the largest and most prominent financial group in the country of Brazil. Over the course of his time as chairman alone, the company’s stock price rose by more than 300 times. This phenomenal growth earned Brandao the respect and admiration of shareholders, board members and employees alike.
It comes as little surprise, then, that even as the elder banker approached 92 years old that there are still many investors who have expressed serious concern with his retirement. However, Brandao himself has assured all concerned that his replacement, Luiz Carlos Trabuco, the bank’s current CEO, is more qualified than anyone else alive to take up the reins of the chairmanship. In fact, Luiz Carlos Trabuco is second only to Brandao himself in the positive influence he has had on the financial institution.
Like Brandao, Trabuco has spent his entire career with the bank, coming to work for Bradesco when he was just 18 years old. Similar to his boss, Trabuco climbed through the ranks the old fashioned way, eventually reaching his first executive roles with the company in the 1980s.
Trabuco has some major accomplishments to his name like receiving Entrepreneur of the Year. He is almost solely responsible for the creation and high levels of success of the bank’s financial planning division, which has accounted for up to a third of the group’s profits in some years. He is also behind the explosive growth that took place in the bank’s insurance underwriting division. Under Trabuco’s watch, the underwriting unit more than doubled its output, becoming the single largest underwriter of retail insurance policies in the country.
Additionally, Trabuco has been a major proponent of the adoption of technology. This can be seen in his oversight of the creation of Next, a mobile banking platform that has proven to be so successful that it was eventually spun off into its own company. This is just a brief listing of Trabuco’s many accomplishment, giving him a formidable resume for the job of chairman.
While no two leaders are the same, it is clear that Trabuco has the right stuff to lead Bradesco into the future.
Search for more information on Luiz Carlos Trabuco: http://www.infomoney.com.br/mercados/noticia/6024599/frases-luiz-carlos-trabuco-sobre-economia-brasileira-davos