By international CEO standards, Luiz Carlos Trabusco is not particularly well-paid. Although the CEO makes just over $1 million per month heading the second-largest bank in Brazil, he seemingly has no need to flaunt his wealth, maintaining a low profile and spending most of his time on work-related things, rather than spending his time spending.
While the CEOs tenure hasn’t been without challenges, Luiz Carlos Trabuco Cappi is still a model to be held up, showing the world that it is still possible to rise through the corporate ranks, all the way to the top. And this is even true in a notoriously stratified society like Brazil.
Luiz Carlos Trabuco’s journey all started almost 50 years ago. In 1969, at the age of 18, he was hired on at Bradesco as a bank teller in his home town of Marilia. He proved adept at the post and was quickly allowed to learn new duties. He quickly began climbing up, first to branch manager then on to roles with even more responsibilities. By the time he was in his early 40s, he was in line for his first executive position.
In 1992, the head of the bank’s financial planning department was slated to retire. Trabuco was the first in line for the position. He had already accumulated well over 20 years of experience and had a track record of stellar competence with the company. He was given the position and thus became head of what was at that time a small arm of the company. But it would not stay that way for long. Over the next decade, Trabuco helped build the financial planning division of Bradesco into one of the company’s best earning departments. By the time he was again promoted in 2003, Bradesco’s financial planning services accounted for more than 30 percent of its total revenues. Trabuco’s role as executive had been a resounding success.
In 2003, he was again the logical choice to fill a higher executive position. This time, it was the head of Bradesco’s insurance division who was retiring. Trabuco got the job and quickly began repeating the success he had demonstrated in the financial planning area. Within a few years, he had more than doubled the underwriting output of Bradesco’s insurance division, making it the largest underwriter of consumer insurance policies in the country. By 2009, Bradesco Seguros was the company’s highest profit business line, accounting for nearly 40 percent of all corporate profits. By this time, Trabuco’s long and stellar career had positioned him as the logical replacement for the company’s then CEO, Mario Cypriano.
Trabuco was the obvious choice to be appointed to Bradesco’s top slot. There were a few other candidates but, by that time, Trabuco had over 40 years of banking experience in nearly every department in the company. And he had managed to turn two separate divisions from mediocre sellers into earnings powerhouses. In 2009, he was promoted to CEO of Groupo Bradesco, at that time, the second-largest banking conglomerate in Brazil.
But his tenure as CEO would prove to be more difficult than his other endeavors within the company. By 2015, the stock price had largely stagnated. Trabuco had not been able to significantly grow the firm and many shareholders pointed to the phenomenal growth under his predecessor and asked if he could be doing better.
Trabuco then saw an opportunity to purchase HSBC Brazil. In the largest transaction in Brazilian history, Bradesco purchased HSBC Brazil in 2015, putting the firm in contention for the largest banking group in the country.
Through hard work and a little luck, Luiz Carlos Trabuco’s spectacular career has proven that upward mobility is still possible.
Find more about Luiz Carlos Trabuco Cappi: http://www.istoedinheiro.com.br/noticias/negocios/20151218/luiz-carlos-trabuco-cappi-empreendedor-ano-nas-financas-2015/327856