Luiz Carlos Trabuco served the leader of Bradesco Bank from 2009 until his recent resignation from the post this year. He is already 66 years old, and according to the rules and regulations of Bradesco Bank, senior executives who are past the retirement age should resign from their post and retire. Luiz Carlos Trabuco will be succeeded by Octavio de Lazari Junior, a younger executive who is ready to face the challenges and responsibilities that will be given to him.
Octavio de Lazari Junior is a great candidate for the presidency, as per the former president. He sees his successor as someone who would be continuing his legacy for the company, and he is confident that all of the reforms would remain under the new leadership.
One of the most memorable changes that Luiz Carlos Trabuco initiated was the purchase of HSBC Brazil for $5.2 billion. When the board of directors appointed him to the position as the company’s president, he knew that one of his responsibilities would be competing against the newly formed Itau Unibanco and bring back Bradesco Bank into the pedestal as the leading financial institution in Brazil. He knows how difficult it is because the majority of their investors have already left the company because of the new opportunities offered by Itau Unibanco. Bradesco Bank’s assets also plummeted because the people started sharing their stocks from the company and buying a new set of shares from their rivals.
Read more: Bradesco anuncia substituto de Trabuco
Luiz Carlos Trabuco never let his thoughts control him, so he called for a meeting and asked his subordinates about the best thing that he could do to attain his goal. The conference is being frequently requested, and the company president actively listens to his colleagues about their ideas. One of the ideas which caught his attention is the acquisition of larger banks and financial institutions according to globo.com. The company president thought that the move is impossible at first, but after he was presented with actual data about the possibility of the scenario, he approved the idea and commanded his subordinates about the plan. He also demonstrated the plan to the board of directors, and even if they have doubts whether the plan would work out, they will give him the guidance and the wishes that he would succeed in what he is seeking for.
CEO Luiz Carlos Trabuco created some contracts for HSBC Brazil, and it was never easy for him to get their approval. He also had to revise the papers containing the agreement and putting everything that HSBC Brazil wanted, while at the same time, negotiating what should be written in the contract and what should be omitted. As a person of extreme perseverance, the president of Bradesco Bank managed to finish the draft that he offered to the executives working at the Brazilian branch of HSBC, and they finally agreed to let the acquisition push through. Bradesco Bank paid a huge sum, it is one of the costliest transactions in the Brazilian business sector, the investment was worth it because it increased their value, assets, and the number of investors.
Find more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2017/10/1926243-proximo-presidente-do-bradesco-saira-da-diretoria-do-banco-diz-trabuco.shtml