Just as is the case with people, each organization can be said to have its own unique personality. This personality is often termed the “corporate culture” and typically denotes the aggregate of the values, traits, and beliefs within the organization. It determines how interactions are conducted both within and outside the company. While corporate culture is not typically written down, it is expressly implied among its employees and practices. One of the areas where the corporate culture us reflected in is hiring decisions. Bradesco, arguably one of the banks with the most defined corporate cultures in Brazil, is set to make its biggest hiring decision yet (that of company president) and it is expected that its corporate culture will play a central role.
The recent succession process at Bradesco has commenced as a result of the long-time chair of the board, Lazaro Brandao announcing his decision to leave the bank after more than seven decades. The place of the 91-year old veteran banker will now be filled by Bradesco’s vice chairman of the board and current president, Luiz Carlos Trabuco. This has, in turn, left a void in the presidency position that needs to be filled. According to the bank’s bylaws, however, a new president cannot be selected until after the next annual general meeting set for March 2018. Consequently, Luiz Carlos Trabuco will serve in the position of chairman and president for at least the next five months.
When it comes to hiring decisions, the corporate culture at Bradesco has typically been to select senior leaders from within the organization. This strategy has been applied with each of the bank’s previous three presidents, Lazaro Brandao, Marcio Cypriano and Luiz Carlos Trabuco, who had all been with the organization for considerable periods of time before being selected for the position. Consequently, the next president at the bank is expected to be selected from among its current seven vice presidents. Whoever gets selected, however, will have very big shoes to fill as the last seven years under Luiz Carlos Trabuco have been some of the most prosperous for the bank in recent history.
More on Luiz Carlos Trabuco
Luiz Carlos Trabuco has been working at Bradesco for the last 48 years. He joined the bank as a teenager, working as a clerk in his hometown’s branch. Over the years, however, he matured significantly as both an individual as a banker. He has held numerous positions at the bank including that of the marketing director, and president of the bank’s largest subsidiary, Bradesco Seguros. His time at Bradesco Seguros was particularly successful as he managed in only a six-year stay to double the company’s value and cement its position as the leading insurance company in the country. He was then in 2009, appointed to become the president of Bradesco.
Unsurprisingly, Luiz Carlos Trabuco’s diligent approach to all the positions that he has held over the course of his extensive career has earned him numerous accolades. Among the earliest awards, he was feted with was the insurance personality of the year award in 2003. He received the honor on account of having a very successful first year at Bradesco Seguros. His understanding of the insurance industry would again see him win the award in 2007, two years before he left the subsidiary to become the president of Bradesco. Since becoming president of the bank, he was in 2015 named the entrepreneur of the year in the finance category by Money magazine. Equally, Forbes magazine included his name in its 2016 list of the top 100 chief executive officers in Brazil.
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