The World Economic Forum took place this January in Switzerland. The forum is the International Organization for Public-Private Cooperation. Dating back to 1971, this forum is a place where international financial leaders and government official convene to discuss shaping economic agendas and strategies on the global level. The forum attempts to formulate efficient ways for private businesses to work with government leaders to create economic prosperity. The Brazilian finance leader and Chief Executive Officer of Banco Bradesco, Luiz Carlos Trabuco set down to give his take on the current economic climate in Brazil. Read more about Luis Carlos Trabuco at globo.com.
Banco Bradesco is the second largest banking and finance firm in Brazil and has played a major role in the economic development of the country dating back to its founding in 1943. Luiz Carlos Trabuco was the 4th president in the history of the company, elected in 2009. During his time as president, Carlo Trabuco had an impactful track record, achieving many financial 1st while maintaining the bank’s tradition of promoting from within promoting positive growth.
Mr. Trabuco in 2003 won Personality of the Year and again in 2007, before becoming the president in 2009. From 1992 – 1998, Trabuco was the executive director and president of Banco Bradesco’s private pension company. Luiz leads Bradesco Seguros S.A to become the largest insurance company in the country accounting for 25% of the total market share and increasing the bank’s profits by 10 percentage points, which lead to him being named the 4th president in the bank’s over 70 year history. Read more at Ultimo Segundo about Luis Carlos Trabuco.
During his nearly 10 year time as leader of the bank as president, Luiz Carlos Trabuco was faced with many challenges during those times. The bank had recently been surpassed as the number one bank in Brazil by one the competitors. Luiz immediately consolidated many departments and reconfigured the power structure of the bank to create an environment that would promote more profitability.
During the World Economic Forum, Luiz Carlos Trabuco discussed the need for serious reform to take place in Brazil to promote and sustain economic growth. The banking veteran highlighted the need for investment safety nets to mitigate financial risk for investors.