Brazil’s Central Bank is trying to keep economic growth on track by easing real interest rates. According to Bradesco’s CEO and Chairman of the Board, Luiz Carlos Trabuco interest rates are going to fall dramatically in 2018. That’s big news for Brazilians who didn’t know what single digit rates felt like on their bank account. The banks will continue to be selective when it comes to who they will approve for personal and business loans, but if they qualify people can buy that house they want and businesses will reduce funding costs and profits should increase. But there is a hint of the recession still floating through the air, so no one is jumping up and down with joy over the interest rate reductions except the big Brazilian banks. And Bradesco is one of the biggest.
Luiz Carlos Trabuco knows in an election year anything can happen and that means former President Rousseff may be back in some way and the famous ex-president Lulu could wind up being president again. According to valor.com.br Trabuco is not a banker that likes to mix politics with banking business, so his focus is on track by finding a new CEO and guiding the bank to new heights in terms of profit and assets under management.
Luiz Carlos Trabuco has several candidates in mind for the CEO position, and all of them work for the bank. Mr. Trabuco has been able to put an executive team in place that can handle bank expansion plans and keep the bank profitable while those plans are in the works. Trabuco is a banker as well as a businessman. He knows how to motivate more than 100,000 employees in the domestic and foreign offices. Luiz is a conservationist and environmentalist that respects nature and protects it by incorporating bank programs that educate as well as play a part in slowing down the impact of climate change.
Read more: Trabuco: Despite the uncertainties, investors believe in the country
Most people don’t realize how important the Bradesco executive is in Brazil, but now that long-term Chairman Lázaro de Mello Brandão is in the final stage of his banking career other members of the team will play an important and visible role in bank operations. Brandão is the godfather of Brazilian banking, so his exit will impact the Board of Directors until Trabuco can function in that position full time. According to Lázaro, a new CEO and president will take Trabuco’s place at the March 2018 shareholders meeting. Meanwhile, Luiz will be the president, CEO, and Chairman of the Board. Trabuco may have his hands full now, but some people say the pressure will still be on him once he turns the CEO keys over to one of his team members. But other people think Trabuco’s banking expertise and his philosophy and psychology background as well as his contacts in the banking and corporate world, will be enough to conquer any of the hurdles facing the bank.
The seven candidates on the list come from the IT department, the investment department, the insurance division, human resources, operations, the loan department, and the risk management department. All the candidates are men and they all have impressive banking credentials. The candidates are Mauricio Machado de Minas, Domingos Abreu, Octavio de Lazari, Andre Cano, Josué Augusto Pancini, Marcelo Noronha and Alexandre da Silva Glüher. All seven men will find out who the board picks in February, so the Trabuco and the rest of the team can make the necessary adjustments. No one is picking a winner yet, but Mauricio, Octavio, and Alexandre are the top picks in the minds of some employees in the bank’s Sao Paulo headquarters.
Search more about Luiz Carlos Trabuco: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml