Throughout his long career at Grupo Bradesco, one of the largest banks in the country of Brazil, Luiz Carlos Trabuco has enjoyed a great deal of success as an executive across many of the business’ different lines. One of the areas in which Trabuco had made one of the largest contributions was in the area of the company’s insurance underwriting arm, Bradesco Seguros. There, Trabuco was able to radically transform and grow the insurance underwriting division, eventually turning it into one of the largest underwriters of retail insurance policies in the area of home and auto insurance in all of Latin America.
Therefore, it was not terribly surprising to many to learn that Trabuco had decided to appoint as his successor in the presidency of Bradesco a man who had long been at the helm of the same division in which Trabuco himself had enjoyed so much success. Octavio de Lazari has been at the head of Bradesco Seguros for more than 5 years. During that time he has continued to post strong profits and has led the division on to expand into numerous other lines of insurance. Trabuco has said that the ability of any new president that he would appoint to quickly and nimbly spot market opportunities and then create products that can adequately exploit them is one of the key traits that he would be looking for in the replacement for his old position of CEO.
Luiz Carlos Trabuco himself has been quite an innovator as well. During his time as the executive of the bank’s financial planning division, Luiz Carlos Trabuco was able to create a highly novel system of incentives for some of the wealthiest clients in Brazil. His ability to attract hundreds of the richest people throughout Brazil and Latin America led to an influx of billions of dollars in new deposits into the bank. Given the nature of the fractional reserve banking system, this influx avenue capital allowed the bank to make tens of billions of dollars in new loans, skyrocketing it through the ranks of Brazilian financial institutions and eventually leading it to become the single largest private banking institution in the country.
Now, as Luiz Carlos Trabuco continues his career with a bank, he won’t have the opportunity to continue to provide strategic leadership in the same kind of strong vision that he has made part and parcel of his tenure in leadership positions with the bank over the last 30-plus years.