When Luiz Carlos Trabuco took over as the president of Bradesco from outgoing CEO Mario Cypriano in 2009, there were great expectations for what his tenure would bring. However, the bank almost immediately became embroiled in the financial crisis that was devastating the global financial markets at that time. It didn’t take long before the stock price of Bradesco began to tank, declining by over 50 percent in a short period of time. Some believe that Trabuco would not last for another year in the presidency of the company. Read this article about Trabuco at Estadao.
But as Trabuco had done so many times in the past, Trabuco was able to persevere, engaging in a number of brilliant transactions that allowed the bank to get back into the running. During the decline in the company’s stock price between 2009 and 2011 another bad development had rocked the firm. Rival banks Banco Itau and Unibanco had decided to merge. The new conglomerate that was formed as a result, Itau Unibanco, became the largest bank in Brazil by far. This put Bradesco at a decisive strategic disadvantage, setting the stage for its eventual demise as Itau Unibanco began to undermine it in all of its markets and use its monopolistic powers to crush all other opposing banks. Visit Wikipedia.org to know more about Trabuco.
But Trabuco decided to take action and get back in the fight. In 2015, he announced that Bradesco would be acquiring banking giant HSBC Brazil for $5 billion in cash. This would amount to the single largest transaction and all of Brazilian history and would eventually make him a legend of Brazilian banking. In the fall of 2015, he announced that the deal had been finalized. With the acquisition of HSBC Brazil, Bradesco had suddenly become, once again, the single largest private bank in Brazil, crushing Itau Unibanco and setting up a future in which Bradesco would be the dominant player throughout the Brazilian banking business.
This brilliant move by Trabuco won him the Isto E Dinhiero 2015 Entrepreneur of the Year Award, a coveted prize that gained him the widespread recognition and praise of many other entrepreneurs and business leaders throughout the country of Brazil.