Luiz Carlos Trabuco’s, the CEO of Bradesco, which is one of the largest private banks in the second largest economy in the Western Hemisphere, Brazil, made a purchase of HSBC using several billion dollars.
The article from the publication aptly named ISTOÉ Dinheiro that translates directly to English as Is Money that made the announcement of Luiz Carlos Trabuco being named the 2015 Financial Entrepreneur of the Year, can be read in it native language and directly sourced here. The publication centering money, the people who have it and how they make it pointed out Bradesco was being back in the fray, at least for the time being, which was two years ago and quickly heading into three, for leadership among Brazil’s private banks.
This is partially true. Of course Bradesco was in the fray as a private bank leader, but the statement implies it was not at some point. According to Bianco Brazil and Wikipedia, Luiz Carlos Trabuco took the mantle of CEO in 2009, and 2009 was the year Bradesco was no longer the top private bank in Brazil. This was hardly the fault of Luiz Carlos Trabuco, Bradesco, any members of the board of directors or the loss of confidence in Bradesco because of its new CEO. In fact, it only slipped from the top spot to a close second place because it took the merger or the two large and powerful banks of Banco Itaú and Unibanco. Bradesco also remains the leader in large variety of financial services. The purchase of HSBC simply catapulted Bradesco back into the possibility of being the most powerful financial institutions in the nation, and it added the spotlight to Luiz Carlos Trabuco for possibly being the most influential man in financial services in Brazil. Being labeled the Entrepreneur of the Year for the financial sector is only serving to make his takeover an event without much surprise.
This is neither a stab of Luiz Carlos Trabuco or a show of support. Luiz Carlos Trabuco continuously being in the limelight for financial services and poised to possibly be announced soon as not a just a financial entrepreneur winning yet another money award, but a possible headline and article talking about Luiz Carlos Trabuco being the greatest man in finance for Brazil and ranking highly in the Americas is worth speculating as an eventual fact.
The article goes on to speak more about Luiz Carlos Trabuco and the loss of Bradesco’s top spot as the number one national bank in Brazil. It pointed out he took over right when Bradesco lost its lead to it biggest rival in recent history, Itaú Unibanco. It seems as if Luiz Carlos Trabuco could have taken over as the supreme leader of financial services, but he cautiously, and perhaps wisely, ruled out the need to first place by saying in an interview, “Leadership itself is not a goal.” It is a possibility he was unable to secured the number one spot, but he made it obvious he had a goal in mind when he took over. He wanted to be the considered first place in quality for the municipalities Badesco and its new leader in 2009 served. Whether or not Luiz Carlos Trabuco met his goals the real question. It appears that even before now, back in 2015, he may have proven his point and established Badesco as being the number one national bank. It is more than likely that Itaú Unibanco will argue the positioning, and he probably will with decent merit considering he did not gain his position by being stupid. In 2015 though, the Chairman of the Board of Badesco approved Luiz Carlos Trabuco to a make $5.2 billion U.S. dollar purchase of USBC. It looks like many people see the acquisition as putting Badesco back as the top play with Luiz Carlos Trabuco making seemingly brilliant moves.
Learn more about Luiz Carlos Trabuco: http://epocanegocios.globo.com/Empresa/noticia/2017/08/trabuco-retomada-do-credito-depende-de-volta-do-pib-e-da-taxa-de-investimento.html