Brazil’s Mobile Phone Sales Are Up In 2017 And Bradesco’s Chairman Luiz Carlos Trabuco Is Ready For More Mobile Banking

Brazilian are big mobile phone users. Brazilians bought more than 48 million mobile phones in 2017. That’s a 10 percent increase over phone purchases in 2016, according to Brazilian Association of Electrical and Electronics Industry. Bradesco’s digital banking platform is up and running, and mobile banking is part of that platform.

President and CEO Luiz Carlos Trabuco and the bank’s IT Chief Mauricio Machado de Minas are responsible for developing the online banking platform, Next, and it didn’t take long for Next to become the next big thing in the banking world. Wall Street is giving Bradesco, the second largest bank in Brazil, a big “thumbs up.” Investors ran away from Brazil because of the economic uncertainty in the country, but they are coming back. There’s money lurking in the cracks of the devastating recession that gave Brazil a black eye in the global economic race and Trabuco and his banking team found it.

Luiz Carlos Trabuco is the new Chairman of Bradesco’s Board of Directors, but he is still functioning as the president and CEO of the bank. Retiring Chairman Lázaro de Mello Brandão is ready to hang up his banking credentials after more than 70 years with Bradesco. The 91-year-old banker is the oldest bank chairman in Brazil’s banking history, and one of Bradesco’s longest-running employees.

Read more: Bradesco to Choose Board Member as New President, says Trabuco

Lázaro de Mello Brandão began his banking career with Bradesco when the bank was new to the Brazilian market. He is one of the people who made the bank what it is today in terms of assets under management and revenue. Luiz Carlos Trabuco is the other name that comes up when people talk about Bradesco’s success. Trabuco didn’t start his banking career until 1969, but he is still one of the oldest employees. Trabuco is also one banker who knows how to get things done. After graduating from the University of Sao Paulo with a degree in philosophy and a graduate’s degree in psychology, Trabuco decided to become a bank trainee with Bradesco. It didn’t take long for Luiz to excel in several bank positions, and by 1984 he was one of the bank’s vice presidents. He took the job as president of the bank insurance division, Banco Seguros, in 2003. And in 2009, he got the bank’s president job. For the last eight years, Trabuco and his team of executives have given shareholders something to cheer about. Now that he is chairman, the world is watching and Wall Street is clapping because he knows how to run a successful private bank in the largest country in Latin America based on brasil247.com.

Trabuco first order of business is to find his replacement within the bank. There are seven candidates, and they all work with Trabuco now, but in different capacities. IT Chief Mauricio Machado de Minas is the man that has a good shot at getting the job, but Alexandre da Silva Glüher, the chief risk manager does too. Human Resource Manager, Andre Cano, and chief lending officer, Domingos Figueiredo Abreu are also in the hunt. But Banco Seguros President Octavio de Lazari may have an advantage because of Trabuco’s past association with Seguros. Bank operations specialist Josué Augusto Pancini is also a contender, and so is Marcelo Noronha. Noronha heads the bank’s investment division.

The new CEO will take over at the annual shareholders meeting in March 2018 according to folha.uol.com.br. Trabuco will continue to be the CEO and the Chairman until then. And 91-year-old Lázaro de Mello Brandão will still have an office in the bank, so he won’t be completely out of the Bradesco decision-making process.

Find more about Luiz Carlos Trabuco: https://www.terra.com.br/economia/trabuco-assumira-presidencia-do-conselho-do-bradesco-banco-nomeara-novo-chefe-executivo-em-marco,9fb1d7fe927d7f26678a7543f82f02edw3u6oihm.html