Bradesco’s New Chairman Of The Board Luiz Carlos Trabuco Wants To Change The Bank’s Business Model

If you are Brazilian, and you bank in Brazil, you know about Luiz Carlos Trabuco. Trabuco is a bank celebrity in Brazil. He’s been a Bradesco banker for the last 48 years, and during that time Bradesco has hit the banking jackpot in terms of annual revenue and assets under management. Trabuco is not an ordinary bank executive. His impressive record verifies his unusual but effective approach to banking. He’s not a financial genius, but he is a people’s person, and that’s the mantra he uses to motivate his executive team.

Banking is all about people, according to Trabuco, and that is the main reason he is taking the emphasis away from the 5,000 Bradesco bank branches and putting it on digital technology. Luiz knows how to go with the flow in Brazil, and the flow is all about banking online. Trabuco knows his degree in philosophy and graduate degree in psychology are helpful now that he is the new Chairman of the Board. But he also knows he will need a strong new CEO to continue what he started.

Trabuco is the new Chairman of the Board because 91-year-old Lázaro de Mello Brandão is retiring. Brandão is a legend in Brazil’s banking industry. He got a banking job with Bradesco in 1943, and he is one reason Bradesco is now the second largest private bank in the country.

Trabuco is the perfect replacement for Brandão. Luiz knows what the bank needs to do in order to continue to grow. One thing the bank needs is a strong and competent new CEO and there are seven candidates in the running for Trabuco’s old job. One of the top contenders for the CEO position is Mauricio Machado de Minas. Minas is the bank’s top tech executive. He is the man who put the digital banking franchise, Next, together.

Read more: Bradesco to Choose Board Member as New President, says Trabuco

Next is going to give the Fintech’s some serious competition in 2018. The other top candidate is Alexandre da Silva Glüher. Glüher is the man who put the 2015 acquisition of HSBC’s Brazilian operations together, and he is also the bank’s chief risk manager.

The other candidates are all responsible Bradesco bankers. Josué Augusto Pancini is in charge of the bank’s 5,000 branches, and he is a prime contender, but some people think Trabuco needs him where is. Domingos Figueiredo Abreu is the current chief lending officer. The bank’s loan portfolio continues to grow thanks to the economic recovery in Brazil and Abreu’s leadership, so he is one of the dark horse candidates. The same is true for Marcelo Noronha, Octavio de Lazari, and Andre Cano. Those three executives have a shot at the CEO position, but they are not the top candidates. Cano heads up human resources, Octavio de Lazari is the president of Banco Seguros and Marcelo Noronha is Bradesco’s chief investment banker.

Mr. Trabuco will continue as CEO and Chairman until February 2018. That’s when the bank will fill the CEO position. Trabuco is capable of performing both positions, and that will ensure Wall Street keeps the “buy now” status in place. Even though Brazil is still not completely out of the recessionary woods, Mr. Trabuco continues to impress foreign investors thanks to an excellent 2017 performance. According to a news release, the first nine months of 2017 were recording breaking revenue months for the bank. And the total assets under management in September 2017 was R$1.3 trillion.

Bradesco may not be the largest bank in Brazil, but Bradesco is the bank most Millennials in Brazil want to do business with. And if Trabuco and his new CEO continue to revamp the bank’s business model, Bradesco could take over the number one position in domestic banking from Banco Itaú sooner than most people think.

Learn more information about Luiz Carlos Trabuco : https://www.brasil247.com/pt/247/economia/321809/Trabuco-assumirá-presidência-do-conselho-do-Bradesco.htm