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Bradesco’s CEO Luíz Carlos Trabuco Ants The Bank To Get Closer To Its Customers

The Brazilian banking industry is a very competitive industry. The big private banks want more customers, and they don’t mind using some interesting tech tactics to make that happen. The Banco Bradesco, the second largest bank in Brazil, is on a roll, thanks to smart investing, insurance against the recession, and government policies that keep banks from losing a lot of money.

Bradesco’s CEO Luíz Carlos Trabuco is one of the Brazilian bankers who knows his bank has to stay ahead of the competition. The bank’s CRM and marketing director Márcio Parizotto is focusing on providing a personalized customer experience in the more than 5,000 Bradesco bank branches.

Luíz Carlos Trabuco is no stranger to personalized service. Trabuco is Bradesco success story. He didn’t go to college to be a banker, but his first real job was a bank trainee at a Bradesco branch. Trabuco has a philosophy degree, and he did graduate work in psychology before he found the banking job in 1969. Even though Mr. Trabuco does not have an accounting or finance degree, he was able to navigate through the banking system to become a director and a vice-president in 1989.

The Bradesco Board of Directors knew Trabuco was a special talent so, in 2003, the bank gave him the job of managing Banco Seguros, the insurance division of the bank. Luíz was able to turn that division into a serious moneymaker for the bank. In 2008, Seguros was turning in 30 percent of Bradesco’s yearly profits. That performance was the catalyst that propelled Trabuco into the president’s office at the end of 2008. Luíz didn’t stop making money when he found himself managing the bank. Bradesco is one of the companies that Wall Street likes in 2017 and 2018. Wall Street investors are pushing Bradesco stock, thanks to the bank’s financial performance in the first half of 2017.

But even though Bradesco is making money, and Trabuco is implementing social and environmental programs for employees and customers, the bank has to do more to stay competitive with Itaú Unibanco, the second largest private Brazilian bank. Mr. Trabuco believes his banks must focus on digital technology. The bank is doing a great job in achieving that goal. Ninety-five percent of all bank transactions are on digital channels. That means more than 20 million customers use 60 different bank websites to do their banking. Trabuco’s and Márcio Parizotto’s goal is to bring technology and marketing together. Traditional bank advertising and marketing plans are not as relevant unless the bank can incorporate its digital technology with those advertising and marketing methods. Bradesco must speak directly to its customers because Brazilians are using technology more to enhance the quality of life.

Even though Luíz Carlos Trabuco is 66-years-old, and he is looking for a replacement, he is still the go-getter he was 40 years ago. Mr. Trabuco is only the fourth president in the bank’s 43-year-old history. His positive impact on the bank will stay with bank long after he retires, according to bank executives. Bradesco is issuing a special dividend in September because bank profits are at an all-time high. The bank’s stock went from a neutral position on Wall Street to a buy position because of the bank’s performance, and because Bradesco has a solid executive team making all the decisions.

Brazil is coming out of a devastating recession and the Brazilian banks are getting ready to bring more customers into their techno-friendly marketing world. Trabuco and his team of executives are working on programs that increase the speed of each transaction. The bank wants to capture and treat data internally and then turn that data into information that enhances the consumer experience.

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