Brazil’s President Is Out Of The Hospital But Not Out Of The Country’s Economic Mess According Bradesco’s CEO Luiz Carlos Trabuco

Banco Bradesco doesn’t need economic growth to continue its financial growth. Bradesco’s 2016 revenue was $50 billion, and the bank will exceed that number in 2017. The bank’s net income in 2016 was $4.6 billion and that number will increase in 2017 as well. The total assets under management in 2017 is $413 billion, and the bank’s executive teams expect that figure to grow in 2018.

Bradesco has more than 5,300 branches when all the supermarkets, retail shops, and other locations are part of the total. And the bank continues to expand its financial reach by recently acquiring Banco Mercantil de São Paulo, Banco do Estado do Maranhão, Banco Ibi S.A., and the Brazilian operations of J.P. Morgan Fleming Asset Management, as well as Banco Bilbao Vizcaya Argentaria. (BBVA) Those acquisitions complement the 2006, American Express subsidiary acquisition, and the 2015, $5 billion acquisition of HSBC’s Brazilian division.

Wall Street gives most of the credit for the bank’s incredible success to the Chairman of the Board, Lázaro de Mello Brandão, and Vice-Chairman Carlos Alberto Rodrigues Guilherme, but foreign investors also know CEO Luiz Carlos Trabuco is the driving force behind the bank’s expansion program on Trabuco is the man who put an effective executive team together. The executive team is a talented mixture of professional bankers and financial advisors who know how to make money. Trabuco is the catalyst, thanks to his management style and 48 years of banking experience with Bradesco. Luiz is not a finance man by education. He is a competent financial man thanks to his intuitive knowledge and his experience in the school of hard banking knocks. Trabuco is the face of the bank in Brazil, and his face is well-known in countries around the world.

Read more: Trabuco to Take Over the Presidency of Bradesco’s Board

When the news that Michel Temer was back in the hospital after bypass and prostate surgery, the country didn’t know what to think about the future of his economic reforms. Brazil still has a long way to go to get back in the BRICS game. Temer is trying to get the country moving again, but political opposition is hurting his recovery programs. But Trabuco doesn’t have that kind of opposition. Lázaro de Mello Brandão, the chairman who gave the bank so much in terms of insight, good banking sense, and progressive banking programs is retiring this year. Luiz Carlos Trabuco is taking over as chairman. Trabuco will still serve as CEO until the bank appoints his replacement. Trabuco replacement will come from Trabuco’s executive team.

There are seven qualified candidates for the CEO position. All the men know how to work with Trabuco and the Board of Directors. The big question in the minds of most Bradesco employees is which man can solve the internal issues that are creating challenges for the bank branches and the bank’s subsidiaries? According to, some employees want more digital services and less on- sight services, so Mauricio Machado de Minas could be the next CEO. The Fifty-eight-year-old IT chief is responsible for rolling out the bank’s digital platform, Next, so he is one of the top picks. But so is Octavio de Lazari. Octavio de Lazari is the president of the insurance division of the bank, Seguros. Seguros is where Trabuco got his reputation as a money-maker. He was president from 2003 to 2009. Seguros employees think de Lazari is a natural for the CEO spot.

The man who put the HSBC deal together, risk manager, Alexandre da Silva Glüher is also at the top of the list. And investment banker, Marcelo Noronha, and Andre Cano the current human resource chief are in the hunt for the job. But some Bradesco employees like Josué Augusto Pancini because of his operation experience. Other employees say Domingos Figueiredo Abreu is the man because of his loan officer background.