Luiz Carlos Trabuco Cappi has been installed as the new CEO of Bradesco, the largest and most influential bank in Brazil. Although there was much debate over who would eventually become replace the bank’s founder Marcio Cypriano, the 57-year-old won out to lead the bank forward in March.
During his run, he stressed that leadership is not the ultimate goal, making sure all of the municipalities were served well is. One of the first acquisitions made was the purchase of the Brazilian branch of HSBC for a record $5.2 billion. Globally, this puts Bradesco on par with many other banks. In an interview with MONEY, Trabuco says the one acquisition did overnight what it would have ordinarily taken six years to do. Because of his bold achievements, he was named Financial Entrepreneur of the Year by MONEY.
Born in 1951 in Marilia, Trabuco has a long history with the bank. After graduating from Faculty of Philosophy, Science and Letters from the University of Sao Paolo, he started as an intern in 1969. Over the years, through much hard work, he was able to work his way through the hierarchy. In the 1980s, Trabuco was president of the marketing board. He did wonders with help shaping the banks reputation with transparency. Before, the bank was very hostile to the media and others who asked questions. In 2003, his celebrity skyrocketed when he began his work as an inside insurer. Through his leadership, consolidation gave the company a 25% share in the market. This also increased the group’s net income to 35% and resulted in the insurance company doubling in size.
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After his presidential takeover, he began to make a number of changes beginning with the creation of a corporate university and the institution of more leadership from executives. He has also successfully undercut former President Amador Aguar’s stance on providing the same service to all customers. Bradesco now has a segment that caters specifically to high-income customers.
Trabuco believes in giving autonomy to his people. At the corporate shareholders meeting held at Noble Hall, Trabuco gave an open mic and encouraged individuals to speak out regarding strategies and concerns. Many in the financial realm believe that he is taking the bank in the right direction with his professional and bold ideas.
Trabuco scoffs at the financial forecast that state Bradesco will have some financial troubles down the road. Trabuco insists that his bank has solidified itself and has a strong outlook. “We will remain calm and steady, despite the loss of leadership with the private banking industry,” said Trabuco. If he has his way, there is no doubt that Bradesco will remain a winner in the long term.
Trabuco, a married father of 3 has a work ethic beyond reproach, according to his executives. He arrives at work early and leaves late every day. He was in the running for appointment of the position of Minister of Finance but turned it down. “We are happy to have him in the leadership position,” said one of his executives.
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