For the last five decades, Bradesco bank has experienced tremendous growth that enabled it to emerge the top among the privately owned banks in Brazil. The bank dominated the Brazilian banking industry by having the highest number of branches, account holders, and even assets. The bank was established in the late 1950s with the aim of offering cutting edge banking services to business people, civil servants, and farmers. The first branch was established in the small town of Marilla but other branches were established across Brazil to serve the growing number of clients.
Bradesco bank enjoyed great success which is attributed to great leadership at the bank. Amador Aguiar, the founder of Bradesco bank was a revered businessman with a keen eye that spotted business opportunities and grabbed them before their competitors. Bradesco bank is known as the pioneer for many banking solutions that Brazilians are enjoying today. Other great leaders who served at Bradesco bank include the former chairman Mr. Lazaro Brandao and the current chairman, Luiz Carlos Trabuco.
The three gentlemen who have occupied the top seat at Bradesco bank led the institution into the acquisition of smaller banks. These strategies enabled Bradesco bank to acquire more assets, establish more branches and also increase the number of customers according to folha.uol.com.br. However, their dominance in the Brazilian banking sector was put to test in 2009 when equally market-influencing banks merged. The two Brazilians banks, Unibanco and Banco Itau merged to form Itau Unibanco. The merger enabled the two banks to take over the lead in the Brazilian banking sector, thus becoming the largest in Latin America.
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How Bradesco responded to the challenge
Itau Unibanco beat Bradesco bank in various aspects that include the number of account holders, assets, and branches. Therefore, the board of directors at Bradesco bank had to act swiftly, and that is when they decided to change the top leadership at the bank. They appointed Luiz Carlos Trabuco to become the president of Bradesco bank.
The board of directors at Bradesco bank appointed Luiz Carlos Trabuco to become the president of the bank following his earlier success as the head of Bradesco Seguros, the insurance division of the bank. Luiz Carlos Trabuco has served in Bradesco bank for close to five decades, having worked in almost every department at the bank as department director.
Luiz had a clear understanding of the bank’s operations and he knew what was ailing Bradesco bank. Since 2009, Luiz Carlos Trabuco has undertaken many initiatives to help Bradesco bank regain its dominance in the country. In 2015, he successfully led the institution into the acquisition of HSBC bank which in a stroke of a pen, restored Bradesco’s lost glory. This move did not only improve his chances of ascending to the helm of the bank, but it also earned him a lot of respect in the Brazilian financial corridors.
Chek more about Luiz Carlos Trabuco: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/Posted by seatheocean on .