The Bradesco Bank is one of the largest financial firms in Brazil, and they have been operating for more than 90 years. The bank is known for its competitive leaders, and one of them is Luiz Carlos Trabuco Cappi. He became the company’s president in 2009 after he succeeded the former president who retired from his position.
As the president of Bradesco Bank, he initiated several reforms especially when it comes to the treatment of the employees and how they are addressing the threats from their rival companies. When he took office as the president of Bradesco Bank, he reviewed the policies within the company and changed everything which he considers as anti-employee according to folha.uol.com.br. Because of his bold move to bring reforms to Bradesco Bank, the employees started to like him, and Luiz Carlos Trabuco Cappi gained a lot of favor from his colleagues.
In 2009, their rivals started to merge into a single company that challenged the might of Bradesco Bank. The rival bank’s assets grew tremendously after the merging, and they grabbed the leading spot as the largest bank in the country concerning assets held. After holding the record for decades, Bradesco Bank was dethroned by their rival. However, Luiz Carlos Trabuco Cappi stated that the company would not let their competitors steal the leading spot. Thinking that the only way to beat their rivals is to forge partnerships with other financial institutions, Luiz Carlos Trabuco Cappi started to look for possible business partners. One of the choices that he selected sparked controversy.
It was reported that Luiz Carlos Trabuco Cappi wanted to acquire HSBC Brazil for a staggering $5.2 billion. He placed all of the provisions of the merger, but the executives and the employees of HSBC Brazil turned down the offer coming from Luiz Carlos Trabuco Cappi. He never surrendered and changed what was written in the letter. This went on for months until HSBC Brazil surrendered and accepted the deal. After the historic merging of the two companies, Luiz Carlos Trabuco Cappi never stopped acquiring smaller banks and other local financial institutions. In a short period, Bradesco Bank managed to control most of the local banks around the country, and their assets also skyrocketed after the public was informed about the merger. Investors also flooded the company, saying that they would want to purchase stocks from the newly merged HSBC Brazil and Bradesco Bank. Luiz Carlos Trabuco Cappi stated that his decision was advantageous to the company, and the board of directors thanked him for his contribution.