Founded in 1943 by Amador Aguiar in the then-small town of Marília, São Paulo, Brazil, Banco Bradesco has effectively metamorphosed into one of the largest banks in the country of Brazil, currently second only to Itaú Unibanco.
Itaú Unibanco is only so large because it yielded from a large merger between Banco Itaú and Unibanco. Instead of competing with Bradesco, joining forces was best for their dreams of reaching number one. Thanks to Luiz Carlos Trabuco, Banco Bradesco made a major acquisition of another banking chain in the country, HSBC Brazil.
Luiz Carlos Trabuco is the President and Chief Executive Officer of Bradesco, serving the financial institution well since his promotion to “top dog” in March of 2009. He’s best known around Brazilian banking circles for his mission to acquire HSBC Brazil. Starting sometime in late 2014, Luiz Carlos Trabuco formed an idea to acquire HSBC Holdings’ Brazilian banking operations, as they were stagnant at best, although the quality of its branches, automated teller machines, and other equipment weren’t the problem – just bad management.
Mr. Trabuco was able to push forward with the deal in the summer months of 2015, specifically August of 2015. Current Chairman of the Board – and former President of Bradesco, the same, exact position Luiz Carlos Trabuco’s in today – Lázaro Brandão approved the transaction, the final barrier between Mr. Trabuco’s potentially highly beneficial dream and reality. Formal trade talks started to finish up in the fourth quarter of 2015, with the 5.2 billion dollar transaction actually being finalized in the first quarter of 2016.
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Although $5.2 billion is undoubtedly a lot of money, the purchase of HSBC’s Brazilian operations were necessary to close the gap between first and second place in the Brazilian financial sphere. Luiz Carlos Trabuco was recorded expressing after the transaction that without the acquisition, a similar level of organic growth would have taken a painstakingly long six years. As such, because Bradesco could afford the deal without going into debt, paying the $5.2 billion sum was well worth it, also because no other banks could hop on HSBC Brazil’s coattails after Bradesco finalized the purchase.
While there’s lots to say about Mr. Trabuco and this recent seismic-level transaction, even more interesting is how his career came to fruition. Here’s a brief history of how he got started, the various positions he’s served Bradesco in, and just a few of the awards and accolades he’s received over the years.
Mr. Luiz Carlos Trabuco was born in Marília, São Paulo, a force of coincidence that his future employer’s original branch was minutes away from his home. Even further, that very location that was operated by Mr. Aguiar, the original founder of Bradesco, was the first place he worked.
However, he went to school for a while prior to getting on board with Bradesco. His first stint in college was in the heart of São Paulo’s metropolitan area, nearly six hours away from Luiz Carlos Trabuco’s home in Marília. Already having graduated high school early, he felt confident that he shouldn’t “waste” his largely unmatched learning potential.
The University of São Paulo was home to Mr. Trabuco’s first degree, more specifically the Faculty of Philosophy, Letters, and Human Sciences. After earning a degree in philosophy, Luiz Carlos Trabuco blasted off to another school in São Paulo, just minutes from his first institution. This time, teenager, Trabuco earned a doctoral degree in Sociopsychology, greatly aiding him in communicating with others.
Luiz Carlos Trabuco has been named one of The Most Powerful 60 [People] of Brazil, 2015’s Entrepreneur of the Year in Finance, and consecutive Insurance Personnel of the Year in 2006 and 2007.
Learn more about Luis Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2014/03/1425150-luiz-carlos-trabuco-e-eleito-vice-presidente-do-conselho-do-bradesco.shtml