A New Hope For Bradesco
Since Itaú Unibanco had merged and taken over the market, Bradesco needed to change things up within their own leadership as a reaction. Nominating Luiz Carlos Trabuco Cappi as President was one of the hardest, yet wisest, choices that they could have made.
Bradesco holds its headquarters in Cidade de Deus and their main office is where all the big decisions are made. Prior to the nomination of Luis, Márcio Cypriano was at the helm of this mega-corporation. Through various mergers and business strategies, the company was brought up to be the largest in the country for a significant period of time.
Since Marcio is nearing old age and the maximum age to be President of the company is 65, they had to pass the torch along to another contender. Luiz Carlos Trabuco had been considered before during the rearrangement of management due to the company founder’s (Amador Aguiar) death in the early 1980s. During that time, Luiz was considered to be too young at the age of 47 to become a leader of the company.
Luiz Carlos Trabuco Cappi had assumed the position during a difficult period. Although the finances of the company are in good state, there is a large undertaking due to the acquisition of over 10 other financial institutions. There was also a grim financial climate of Brazil in general that made things seem even more overwhelming. For example, the return on equity was also estimated to be significantly lower in previous years.
Trabuco Is A Different Kind Of CEO
Luiz is not the typical CEO that lives life in the fast lane. He is very laid back, soft spoken and a family man. He is married with three kids and overall leads a modest lifestyle. He got to where he was by working hard as an entry level clerk at the age of 18 up to various leadership roles. He also never studied for finance in the first place. He studied sociology and philosophy, which makes him rather unusual in the corporate finance world.
Amador Aguiar opened his first bank branch in 1943 and this is where Luiz happened to start working. After a few years in the company, he was transferred from the small town bank to a major branch in Sao Paulo. This is where his career would start to have an upswing. As a dedicated employee of the company, he stuck with it until he was offered high-level positions in the 1980s.
Giving The Company A New Image
Prior to Trabuco’s lead, the company was never in the spotlight of the media. Luiz had made an effort to increase public relations and open up the company to the media spotlight. His tactics must have worked because the company’s position in the insurance market had more than doubled in size. He had also reformed the company’s marketing tactics towards mostly high-income clients rather than the fair treatment policy that the founder had originally set.
About The Company
For those that are not from Brazil, Bradesco is one of the biggest household names in Brazillian finance. Your typical Brazillian will memorize its logo since there are thousands of branches around the country with over 34,000 cash machines installed in supermarkets and convenience stores. In addition to banking, they are big in the insurance, loans and pension plan industries. You can find branches in several finance capitals around the world including New York, Hong Kong, Singapore and Luxembourg. It is also an internationally traded company on the stock exchanges in Spain and the United States of America.
For more information about Luiz Carlos Trabuco Cappi, just visit istoedinheiro.com.br.