The financial sector is without a doubt, one of the most fundamental parts of many economies in the world. Also one of the largest holders of S&P 500, the sector has the largest companies in the financial industry with one of the most recognizable banking institution being Banco Bradesco.
Located in Brazil, Banco Bradesco is a leading financial services company in the sector of finance. Also privately held, the company is manned by a board of directors who take charge of the entire operations.
Brandao Steps Down
In 2017, the former executive leader (chief executive officer and president) of the company resigned. In a statement addressing his reason for stepping down, Brandao de Mello admittedly said that he had served long enough to grow the bank and his career. As such, it was critical for the bank to rely on the expertise of a younger leader. In this case, Luiz Carlos Trabuco temporarily fit the bill; Bradesco’s policies allow one person to head one department. Therefore, the board of directors would eventually announce the new leader of the bank.
A New President
The board of directors recently appointed one Octavio de Lazari Junior to serve as the president and chief executive officer of Banco Bradesco. The 54-year-old has since told journalists that as of early 2018, credit has improved. Having worked as a director for the insurance unit, he is well-versed with the activities of the finance department, and he handles the business with diligence. As he takes over the leadership realms, it is clear that he has invaluable asset management skills that are useful to the bank.
Growing in Bradesco
Luiz Carlos Trabuco joined Banco Bradesco when he was a teenager. At that moment, he was trusted to serve as the office clerk. Well, in his tenure, he learned a lot in terms of running the business. At the same time, he grasped essential managerial skills and used them to shape his banking career within Bradesco. With the input of Luiz Carlos Trabuco, Banco continuously expanded its share market in the industry. At the same time, it acquired Banco do Estado and Banco Ibi S.A. Following these and other achievements, he was elevated to serve as the director of finance. Therefore, he learned various finance managerial skills. He also honed his skills in resources allocation.
After a few years of blending wisdom and dedication to achieve excellent results in the finance department, Luiz Carlos was promoted to serve as the president of the company. He managed to grow Bradesco’s shares and earn significant recognition as the entrepreneur of the year when he acted as the major intermediary between Banco Bradesco and the privately held HSBC Bank. The deal was sealed at $5.2 billion, and it was first enforced into the organization by the former chairman, Mr. Brandao de Mello.
With the shakeup in Banco Bradesco, many have asked if the operations of the bank will be interfered with. Well, this is not likely going to happen because the new president has been working for Bradesco for more than a decade. He has credible skills to grow the company’s shares.
Search more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384