In March 2018, the World Economic Forum held its 13th annual meeting to discuss the top international issues of the day. The event convened in Cologny, Switzerland and the focus of this year’s forum was Latin America. Luiz Carlos Trabuco, then Chairman of Banco Bradesco was a guest speaker. Only the most distinguished leaders in the fields of banking, politics, civil society and government are invited to attend. Trabuco’s list of accomplishments that lead to his invitation to join the forum began with his educational pursuits in São Paulo. Brazil is where he completed both graduate and postgraduate studies. Luiz Carlos Trabuco joined Bradesco in 1984, and during his tenure with the company, he held multiple head management positions including Chief Executive Officer, Chairman and President and Chairman of the Board of Directors.
Until the predetermined date of March 12, 2018, Luiz Carlos Trabuco maintained the positions of President of the Executive Board and President of Bradesco. After this date, his replacement, Octavio de Lazari Junior took over as the President of the bank. In the wake of his officially leaving Bradesco’s Executive leadership at the highest level, Trabuco was gracious in his exit. He spoke about the end of his presidency and said, “We have a timetable before the assembly to propose the board of the council,” Prior to this, there was much speculation about the timing of his departure; Trabuco did mention that originally the date was established as February 10th. However that formal deadline was extended to March for business reasons.
Read more: Bradesco anuncia substituto de Trabuco
The advisory committee of Bradesco sought an extension because the deadline related to lifting the imposed moratorium on the age limit for bank executives according to folha.uol.com.br. In September 2016, in anticipation of naming Luiz Carlos Trabuco’s replacement, a formal request was submitted to extend the age limit from 65 years to 67 years. There were just too many outstanding issues at the time that the board felt needed Trabuco’s input. This included two unexpected tragic events surrounding the expected successor and the Vice President and President of the Bank. However, there was never any intense pressure by the bank to effectively select a replacement.
Luiz Carlos Trabuco served as the President of Bradesco for nine years. In 2009, during the first year of his tenure, he was named as one of the most influential Brazilians. His executive skills were also recognized by Forbes magazine in 2016, when he was picked as one of the best executives in Brazil. Trabuco briefly made reference to the future of Bradesco during his departure, he mentioned that despite the economic challenges, Brazil’s future was starting to grow. Bradesco was the primary center of Trabuco’s entire career. He started as a youth, working as a clerk and remained with the bank until March 2018. The years represent many progressive changes in his career adding to the bank’s history. A history that involved Trabuco demonstrating his leadership abilities in various top management positions for 40 years.
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