Luiz Carlos Trabuco is about the closest thing that those of us living in the modern age will ever see to a Horatio Alger story. The CEO of Bradesco, one of the most important Brazilian banks, rose from the lowest position in his company to the highest, becoming the top dog at a banking conglomerate that employs over 100,000 people.
But it may be disheartening to some to learn that the starry-eyed kid who was able to pull himself up by the bootstraps has so thoroughly internalized the maxims of the modern, globalized financial industry that he as taken many steps that would make it almost impossible for someone like him to repeat today what he was able to accomplish as a youth. It seems that in a globalized financial system, institutional imperatives subsume all else.
The man recruited from within recruits from without
One of the most heatedly controversial aspects of modern corporate life is the fact that, so often, those populating the executive suite are a professional class of executives. Many who do not operate at the higher echelons of the corporate world are unaware that, today, it is nearly impossible for one to work their way up from the mail room to the executive suite. And the exceptions often prove the rule.
Such is the case of Luiz Carlos Trabuco. The CEO has recently garnered some criticism for filling executive roles with people from outside the company, a move that many say is hypocritical due to the fact that Trabuco himself was promoted from within the company to various executive ranks. In fact, given Trabuco’s hiring track record, today, it would be almost impossible for someone young to follow in his footsteps and climb all the way through the ranks of Brazil’s largest retail bank.
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However, the difficult aspect of all of this is, no matter how much contention and demoralization such outside recruitment of executive talent causes among the rank and file employees, it nevertheless remains true that Trabuco is likely just following the most rational course of action. In today’s highly complex, competitive and globalized marketplace, failure to recruit the absolute best executive and managerial talent means that any CEO that does so is quite literally putting his company at risk. If he recruits a substandard executive, he can rest assured that his competition will not, giving those firms willing to go the extra mile in recruiting the best a huge relative advantage.
This is the stark reality of a practice that often appears cruel to a corporation’s hard-working employees and frequently smacks of cronyism and country-club business practices. But the question remains. If even someone like Trabuco is only able to rise due to his ability to internalize the globalist zeitgeist, is there any real chance to reform the system from within? Many other of Trabuco’s action tend to sway the answer in the direction of a firm “no”.
For example, some of Trabuco’s most successful moves at the bank, ones for which he was recognized and promoted to higher roles within the company, were arguably even more elitist and exemplary of the globalist impulse than his recruiting practices. One such move was his decision to tier off banking services based on the value of the client to the firm. Prior to Trabuco taking on a managerial role in the bank’s financial planning division, the corporation’s philosophy had been to treat all customers more or less equally, independent of the value they presented to the company.
Trabuco quickly did away with that, creating an exclusive service for high-net-worth clients and enabling the bank to begin attracting some of the richest people in Brazil and Latin America as a whole. The strategy was a resounding success, increasing the bank’s revenues by tens of millions of dollars.
As inspiring as Trabuco’s rise from ground floor to executive suite is, it’s important to keep in mind that, for all practical purposes, he became an incarnation of the globalist impulse.
Learn more about Luiz Carlos Trabuco: http://www.istoedinheiro.com.br/noticias/negocios/20151218/luiz-carlos-trabuco-cappi-empreendedor-ano-nas-financas-2015/327856