Throughout the history of Latin America, many countries have had a love-hate relationship with monopolies. Although most people view monopolies in a negative light, many countries in Latin America have been irrefutably helped by the dealings throughout their countries of some of the most monopolistic companies that have ever existed in the Western Hemisphere.
Firms such as the United Fruit Company have, to be sure, left terrible legacies in their wake. However, they have also helped a number of extremely backwards countries come into the fold of the First World. Other companies, such as International Telephone and Telegraph, have been able to dramatically expand the scope of modern communications and first-world amenities throughout many countries that were as backwards and primitive in the early 20th century as they had been a thousand years before.
And in the country of Brazil, this history is little different. Today, Grupo Bradesco is on the verge of becoming a bona fide banking monopoly as well as having monopolistic control over a number of other financial sectors. The bank’s rise from relative obscurity to one of the most powerful financial institutions in the history of Latin America is largely the story of one of its key employees, Luiz Carlos Trabuco.
Luiz Carlos Trabuco first came to work to the bank in 1969 when he had just graduated from high school. Without any type of college degree, Luiz Carlos Trabuco was still able to get his first job as a bank teller. From there, he was able to quickly move his way up the corporate hierarchy, eventually landing his first executive role in the mid-1980s.
From there, he was able to prove himself as one of the most astute and strategically gifted bankers that had ever graced the industry. As a head of the bank’s financial planning division, Trabuco was able to institute new policies that were able to attract some of the wealthiest clients in Latin America. This resulted in tens of billions of dollars in new deposits flowing into the bank, which, in turn, allowed the bank to issue billions upon billions of dollars in new loans.
This crane of expansion throughout the mid-1990s, when Trabuco was at the helm of the bank’s financial planning division, has been largely credited to his wise leadership. Luiz Carlos Trabuco was eventually appointed to the presidency of the bank in 2009, a position from which he was able to continue the expansion of the bank to over 5,000 branches.