Luiz Carlos Trabuco: Banking Guru, Insurance Guru And Patriot

Every bank has an indispensable role to play in the society. By offering credit services, banks are able to support the economies of the communities they are involved in. Additionally, banks also safeguard their client’s deposits and support a state’s workforce by providing well-paying jobs. As such, there is a lot at stake when the time comes for banks to select their decision makers. Brazil’s second-largest bank was well aware of this fact when it selected Luiz Carlos Trabuco to become its president in 2009. An experienced and level-headed leader, he has since proved that it was the right decision to select him.

Luiz Carlos Trabuco has worked in almost every facet of banking. However, it his work in the insurance industry that first thrust him into the national limelight. For the six-year period between 2003 and 2009, Luiz Carlos Trabuco was the president of Bradesco Seguros, the insurance subsidiary owned by the Bradesco Group. Bradesco Seguros was already the leading insurance company in the country when he joined. However, not one to rest his laurels, Luiz Carlos Trabuco quickly set about making the company even bigger. He largely concentrated on the basics such as improving customer relations and expanding the company’s broker network. In a highly competitive industry, he guided the company towards gaining more market share thus making it the largest insurer in the entire Central and South American region. In the process, Bradesco Seguros also doubled in its value and grew its contribution towards the parent company’s financial results to 35 percent (it was only 25 percent when he before he took over).

During his term as the president of Bradesco Seguros, Luiz Carlos Trabuco was one of the executives that strongly lobbied the government to greater importance and support to the insurance industry. He saw the insurance sector as an industry central to the running of the state as it helps in maintaining social welfare. Consequently, Luiz Carlos Trabuco held the respect of many in the insurance industry. It, therefore, did not come as a surprise to many that he the insurance personality of the year for 2003 and 2007 – an award issued annually by Coverage Magazine.

Luiz Carlos Trabuco has carried over the diligence and hard work he applied while at Bradesco Seguros to his presidency position at the parent company, Bradesco. Despite only being named the president in 2009, he had by 2015 grown the bank’s client base by over 7 million people. The figure is set to be even higher today due to Bradesco’s acquisition of HSBC in 2015. The deal which was valued at over $5 billion at the time took Bradesco ahead of its biggest competitor, Itau Unibanco, in some performance metrics. Bradesco now has more account holders, a greater branch network and more investments in total than Itau Unibanco.

Outside of the workplace, Luiz Carlos Trabuco likes to maintain a low profile, as would be expected of a man who works at least 12 hours a day. He largely occupies his free time with his wife and children. However, where a patriotic cause has present itself, Luiz Carlos Trabuco has not been one to shy away from lending his support. For instance, he was one of the most vocal supporters for the designation of the “Christ the Redeemer statue” in Rio de Janeiro as one of the modern world’s seven greatest wonders. He greatly lent his voice to the campaign by coining the phrase, “Vote Christ, it is a Wonder.” When the statue was eventually assigned the highly covetable tag, many in Rio de Janeiro, and indeed the rest of the world, were highly appreciative of Luiz Carlos Trabuco’s unsolicited contribution.

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