Bradesco Bank has been in a constant rivalry with two of its closest competitors in the industry – Banco Itau and Unibanco. However, their competition ended up with Bradesco Bank being in the bottom place. After the merger of Banco Itau and Unibanco, the number of investors working with Bradesco Bank significantly decreased. The same thing happened to their assets – it plummeted down to its lowest levels since the establishment of the bank several decades ago. The growth of the newly established rival bank, on the other hand, is posing significant threats to the company. Itau Unibanco became the largest bank in Brazil after the merger in 2009, and Bradesco Bank is trailing far behind. Adding to the woes of Bradesco Bank is the resignation of their president because he already reached the age of retirement. The board of directors back at Bradesco Bank needs to look for a replacement immediately, and after reviewing the application papers of those who are interested in the position, they saw the profile of Luiz Carlos Trabuco, and they realized that he is the one that deserved to become the company’s next president.
From being the executive vice president of Bradesco Bank, Luiz Carlos Trabuco was promoted to become the newest president of the company. His primary objective after his promotion was to introduce reforms within the company that would allow Bradesco Bank to experience tremendous growth. Under his leadership, there would be frequent corporate meetings where he would ask the department heads about the condition of their departments. He would also question his colleagues about ideas on how they could increase the company’s value and assets. These frequent meetings provided him with vital information that he could use to further the company’s interest.
One of the ideal solutions to secure the position of Bradesco Bank to become the country’s largest and leading bank once again is to acquire financial institutions in the country that has a sizable market. What he thought about was the acquisition of HSBC Brazil, and it was valued at $5.2 billion according to meioemensagem.com.br. At first, the board of directors back at Bradesco Bank is warning him about his decision, and they are telling him that the amount asked by HSBC Brazil is too much, and it could make the company go bankrupt. However, Luiz Carlos Trabuco assured the board of directors that the decision to purchase HSBC Brazil would benefit the company in the long term. He managed to persuade the board of directors to agree with his decision, and the acquisition took place in 2015.
After Bradesco Bank bought HSBC Brazil, the company’s stock market value skyrocketed. The board of directors is grateful that they allowed Luiz Carlos Trabuco with his decision to purchase HSBC Brazil. Today, Bradesco Bank keeps on getting more investors, and as a result, their assets are growing steadily. The company’s value at the stock market is also on an upward trend, and even if Luiz Carlos Trabuco already announced his retirement, his legacies would continue shaping the company for a brighter future ahead.