Luiz Carlos Trabuco Helps Save Bradesco From Decline
Bradesco is one of the most important financial institutions in all of Brazil. Founded in 1943 in the small town of Marilia, the company has grown from a one branch thrift institution into one of the largest and most powerful financial firms in all of Latin America. Along the way, it has benefited greatly from extremely talented employees. One of those, Luiz Carlos Trabuco, is one of the most valuable people that has ever worked for the bank. He has personally helped to build the company into what it is today and has widely garnered recognition for his role in the incredible rise of the bank from a relatively obscure financial institution into a powerhouse of cross-industry prestige.
After a long career that spanned more than 40 years, in 2009, Trabuco was appointed to the presidency of the firm. He took over from legendary president Mario Cypriano, who had overseen a rise in the company stock price of more than 200-fold. Taking over for such a giant of the banking industry meant that Trabuco had some seriously large shoes to fill. However, he would have actually prove that he was up to the task. But not before near catastrophe would strike.
Just as Trabuco took over the reins of the company, the financial crisis that had unfolded across the globe began to exact a heavy toll on the Brazilian banking industry as well as Bradesco in particular. Over the next three years, the company’s stock price declined by almost 75 percent. This led many to believe that Trabuco’s days may be numbered with the firm. There were serious questions as to whether or not he would be able to survive with his career intact.
But then, in 2015, he was able to engineer one of the greatest successes and Brazilian banking history. He got wind that the largest bank in the world was selling its subsidiary, HSBC Brazil. The division was purchased for $5.2 billion in cash, marking the largest deal in Brazilian history. This instantly rifled Bradesco to the number-one spot among private banks in Brazil, giving it a decisive strategic advantage over its competitors.