Luiz Carlos Trabuco Devises New Business Model For Bradesco, But Is It Enough?

Luiz Carlos Trabuco ascended to the office of CEO of Grupo Bradesco, by some measures the largest financial conglomerate in Brazil, in 2009. Since then, his tenure has seen very mixed results, with some critics pointing to the fact that the stock, at one point, was down by almost 75 percent on his watch. However, since 2015, when Trabuco completed the largest acquisition in the history of Brazilian business with the purchase of HSBC Brazil, the stock price has soared back, increasing by more than 100 percent.

Still, there are those who criticize Trabuco’s “growth at any cost” strategy of ruthlessly pushing out all lesser competitors. Whether or not his strategy will ultimately be vindicated can only be hashed out in the coming years. However, there is no doubt that recent performance of the company and Trabuco’s successful expansion of the firm’s presence all suggest that his vision of Bradesco as the undisputed top financial services company in Brazil is becoming a reality.

Yet even if Trabuco stepped down from the helm of the company today, his contributions to the company would still be enormous. What his tenure as CEO and president has obscured are the many contributions he made before taking the company’s top job. Many Bradesco insiders quip that Trabuco is the reincarnation of the company’s founder, Amador Aguiar. They say that he is a walking personification of Bradesco’s corporate spirit.

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While this may be exaggerated, there is no question that Trabuco has, largely single-handedly, forged the company’s modern ethos. Through his philosophies, which were radically different at the time, he has informed the company’s long-term strategies and corporate philosophy since at least the mid-1980s.

Where is the competitive edge for a bank?

What Trabuco understood better than any who had come before him was that banking is not an industry where it is realistic to expect that a company can get a meaningful competitive edge through a superior banking product alone. In the old days, town’s often had only one bank. This de facto monopoly gave banks the ability to stay profitable, even when competitors offered better rates, simply because traveling was more difficult according to wikipedia.org. But as the world evolved throughout the 20th century, the banking industry became dramatically more competitive. With the advent of automated, electronic banking, such as with ATMs and debit cards, a bank offering superior rates anywhere in the country was potentially an existential threat to the competition. This began the era of hyper-competitive banking and the consolidation that followed it, both in Brazil and elsewhere throughout the world.

What Luiz Carlos Trabuco saw that many others didn’t at the time was that banking is fundamentally a commodity business. This means that it is nearly impossible to differentiate the product itself on anything but price. A savings account is a savings account. The only thing that really differs from one bank to the next is the interest rate that it pays. What Trabuco knew is that if Bradesco wanted to gain a real competitive edge, they would need to do other, unrelated things to attract new clients and steal old clients away from competitors. Trabuco looked to another commodity business – the casino industry.

While heading the financial planning division, Trabuco had the epiphany that if Bradesco could attract the highest value clients in large numbers, it would have a gigantic edge over its competition. Until that time, the bank’s philosophy had been that all customers should be treated exactly the same, no matter their bottom-line value to the company. Trabuco quickly dispensed with that, creating a tiered system that could attract high-value clients to the bank.

The result was Bradesco Prime, a service that catered to wealthy clients through the use of separate, luxuriously outfitted facilities, personal, on-call bankers and a rewards program that included free first-class airfare, accommodations and cash rewards.

Today, this philosophy is at the core of Bradesco’s businesses.

For more information about Luiz Carlos Trabuco, just click here.

How Richard Mishaan Design Approaches Critical Design Work

Richard Mishaan Design has been one of the stalwart interior design firms in New York over the past 25 years. Unlike other design companies, Richard Mishaan Design has established themselves among one percenters and the middle class alike. Their unique focus on blending affordable furniture with multiple eras of decorations have put the design firm right up there as one of the most popular around the world. Leading the charge is Richard Mishaan himself, the designer who dares to buck convention and bring something unique and personal to each and every one of his projects.

 

Richard Mishaan Design hasn’t just set the record straight at home in New York, they’ve also accomplished some great projects outside of the city as well. You could look at Mr. Mishaan’s own home in Cartagena, Columbia in order to see that his approach is the same in personal work as it is when he works with the public clients that he so often earns with his impressive portfolio. Some of Richard Mishaan’s finest work has been done, as well, in classical places like St Regis and the suites he designed back in 2010. No matter how Richard Mishaan Design approaches a project the outcome is almost always the same: a deeply personal, unique project that appeals to both Mishaan’s sensibilities as well as the clients own desires.

 

Even though Richard Mishaan Design caters to the upper crust clients in New York and abroad, he doesn’t let money get in the way of a great project. In fact, Mishaan actively shrugs away the highest cost project decisions. Mishaan actually hates it when customers only want the most expensive option. Mishaan claims that the key to success as a designer lay in your ability to think critically rather than open up your checkbook the widest that you can.

http://www.richardmishaan.com/blog/category/Richard-Mishaan-on-Bedding

 

http://www.fundacity.com/richardmishaan

Meet the Renowned Property Developer in the Middle East; Hussain Sajwani

Hussain Sajwani is a real estate developer from the United Arabs Emirates (UAE) and founder of DAMAC properties. Hussein graduated from the University of Washington before beginning his career at GASCO as a contracts manager. On leaving this company, he founded his own business venture in food and catering industry in the year 1982. The business has grown in years and currently is managing over 200 projects while providing more than 150,000 daily meals in UAE, Africa, and CIS. In the 1990s, he grew interests in real estate industry and thought of pioneering in property expansion in Dubai. Sajwani could notice a large number of people traveling in UAE, and he saw a great opportunity. He began by constructing hotels to accommodate the people who were looking for business and trade in the region.

Later in the year 2002, he established DAMAC properties, and this company has grown into the largest real estate development company across the Middle East. Sajwani is an expert in property development industry, and he knows a lot including sales and marketing, finance, legal and administration. This knowledge has greatly contributed to the success of the company which has developed prestigious projects in major cities such as Abu Dhabi, Beirut, Dubai, Jeddah, Doha, Riyadh, and London.

DAMAC Properties has employed about 2,000 employees, and it is publicly listed in Dubai Financial Markets where the shares are publicly traded. The company is renowned for its luxurious property developments in the market has been able to build more than 17,900 homes with a portfolio of about 44,000 units in various stages of planning and progress. The company has partnered with other brands so as to deliver more exciting ideas in the markets. These include The Trump Organization, Italian fashion-houses Versace, and Bugatti among others. DAMAC Properties has a hospitality division that was launched in the year 2011 to provide bespoke services to residents in the hotel industry. The company has achieved its tremendous success due to the visionary and the entrepreneurial skills of Sajwani. DAMAC owner has a very close relationship with President Donald Trump who describes him as a very great and an amazing man. Hussain Sajwani family visited Florida early 2017, and Trump highly praised his Dubai business partner, Sajwani in his speech.

 

To learn more, visit http://www.hussainsajwani.com/.