The banking industry plays an essential role in every economy today. Banks provide the expertise and credit needed to initiate and sustain the economic growth levels in the world. Having competitive banks is welcomed by every country, but most of all Brazil. The Brazilian economy has entered the realm of industrialized markets and is in dire need of financial products to facilitate the large infrastructural projects being undertaken in the country. Since 2009, Luiz Carlos Trabuco Cappi has served as the Chief Executive Officer of Bradesco which is the second largest bank in Brazil behind Itaú-Unibanco. Luiz who hails from Marilia, Brazil, has been working at Bradesco for the past forty years and counting.
Luiz Carlos Trabuco Career Background
At the age of 18, Trabuco started off his career at Bradesco Marilia’s branch in 1969. After two years, he moved to the bank’s headquarters office in São Paulo. During his time here, his career path gradually progressed, and a series of high-stake promotions followed. For instance, in 1984 he became the director of marketing for Bradesco. Between 1992 and 1998, he served as the President and Executive director of the private pension company of Bradesco. In 1999, he became the executive vice president of Bradesco, and in 2003, he became the insurance company’s president. He succeeded in growing the contribution of the insurance division to the bank’s net profit from 26% to 35%. As a result, his productive work at the Bradesco’s Insurance Group led to the company doubling up in size and becoming the largest insurer in Latin America.
Bradesco’s current asset value is R $ 422 billion and is approximately R $ 150 billion behind Itaú Unibanco, its main competitor.Despite trailing behind Itaú Unibanco, Trabuco is keen on taking Bradesco to the highest levels by making it the largest Brazilian bank. Luiz Carlos Trabuco Cappi also aims at narrowing the gap by buying smaller banks. Also, he aims at improving the internal performance of Bradesco as well as opening 211 branches.
Luiz Carlos Trabuco Rise to Presidency
Throughout Bradesco’s 64 years of history, only three people have held the presidency title before Trabuco, and they include; Amador Aguiar, the founder of the bank, Márcio Cypriano and Lázaro Brandão. At age 57, Trabuco replaced Cypriano, who left the command because the Bradesco does not allow presidents aged over 65 years. Unlike other bank executives who majored in accounting, economics or administration, Luiz Carlos Trabuco Cappi holds a philosophy degree from the University of São Paulo. He also has a post-graduate degree in Socio-psychology from the São Paulo’s School of Sociology and Politics.
In 2006 and 2007, Luiz Carlos Trabuco Cappi received a notable award when he was named The Insurance Person of the Year. In 2009, his name appeared among the 100 most influential Brazilians List. Apart from growing the bank considerably, Luiz Carlos Trabuco has also revised the rates of the bank in a bid to attract a greater pool of clients. His most notable contribution was seen in 2015 when he oversaw the Bradesco’s $5.2 billion purchase of HSBC Brazil. As a result, he received the Entrepreneur of the Year Award in the finance category.
DespiteLuiz Carlos Trabuco Cappi’s immeasurable success over the years, he has remained humble and prefers not to show his wealth openly. He is also careful with his words and only talks when required to speak. It is quite evident that Brazil is fortunate to have Luiz Carlos Trabuco as one of the top business executives guiding its growth.