Brazil’s Banco Bradesco Stock Keeps Rising In Spite Of Pension Worries According To Chairman Luiz Carlos Trabuco

Brazil’s President Michel Temer is not wasting any time trying to pull his country out of a devastating recession. But not all is economically bright and sunny in the largest country in Latin America. Some of Temer’s changes like pension reform are creating anxiety for many Brazilians. Stress and anxiety make Brazilians stop doing things they normally do, like investing.

Brazilians are big savers, more by necessity, than design. But Banco Bradesco’s new Chairman of the Board Luiz Carlos Trabuco thinks good planning, social management, and fiscal responsibility must always be part of the banking/savings equation. Trabuco is a different kind of banker. He’s a thinker, not a bank bean counter who squeezes eleven cents out of a dime.

Luiz Carlos Trabuco is more philosopher than accountant, and he’s not a picky financial banker.

Trabuco has a degree in philosophy from Sao Paulo University. Luiz is a one of those people who is not afraid to roll his sleeves up and start helping people in a number of different ways.

He is currently helping Lázaro de Mello Brandão prepare for retirement. Forty-eight years after starting his career with Bradesco, Trabuco in now the Chairman of the Board of the second largest private bank in Brazil. Mr. Trabuco did his time as a bank teller and management apprentice.

He spent several years as a director and then a vice president of the bank. In 2003, he got the chance to take over as president of Banco Seguros, the insurance division of the bank. In 2009, the board brought him back to Bradesco as President and CEO. Now that Lázaro de Mello Brandão is out, Trabuco will act as CEO and Chairman until a new CEO gets the nod.

Read more: Trabuco: Despite the uncertainties, investors believe in the countrycreditam-no-pais

Mr. Brandão will still have an office in the bank. After 74 years he deserves one, according to Andre Cano, the Vice president of Human Resources. Cano also happens to be one of the seven candidates for the CEO position. The man chosen will take over at the March 2018 shareholders meeting. Marcelo Noronha, the VP of investment division, and Chief loan officer, Domingos Figueiredo Abreu are also candidates. Josué Augusto Pancini, the vice president of bank services could be the new CEO, and so could Seguros president Octavio de Lazari.

The last two men on the list, Chief risk manager Alexandre da Silva Glüher, and Mauricio Machado de Minas are the leading candidates for the position. Mauricio Machado de Minas is the VP of IT. He is the executive behind the bank’s new digital banking franchise, Next. Next will give Brazilian FinTechs some competition in 2018, according to Mauricio Machado de Minas. Alexandre da Silva Glüher is the executive who put the 2015 HSBC deal together. Bradesco took over HSBC’s Brazilian banks. That deal was a great deal for Bradesco, but the addition of more branches is creating a new game plan where it comes to brick and mortar banking.

Trabuco knows his bank must stay one step ahead in the IT department if the bank wants to provide services and products to more than 69 million clients in a 21st-century banking type of way. That means online and mobile banking, according to Mr. Trabuco.

There is a lot going on internally and externally with Bradesco. Electing a new CEO is always a challenge, but in this case, the man who will fill that position is an insider. He knows how Bradesco systems work, and he knows how to get things done within those systems. Plus, Chairman Luiz Carlos Trabuco will be there to share his banking expertise and experiences.

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

Leave a Reply

Your email address will not be published. Required fields are marked *