Posts in Category: Bank Executive

PSI Pay — The Virtual Option for Worldwide Payment

PSI Pay is a first rate new agency that is imparting virtual offerings to everybody. They’re currently running in over 173 international locations and they support forty four currencies. This lets clients use their offerings anywhere they move without the worry of going through the trouble of banks. They may be offering a groundbreaking opportunity for those who are attempting to find a manner of payment even as they’re on tho go. PSI Pay has been recognized as a licensed associate of popular credit card companies and uses their offerings to assist the mobility of their customers’ payments.

PSI Pay gives extraordinary merchandise for customers that need full service. The top choice is their contactless payment. This contactless approach of charge permits clients to pay for goods through a digital debit card. It protects monetary institutions and customers. For customers attempting to find a conventional technique of transacting, PSI Pay gives debit cards and prepaid cards. A client can open an account and fill those cards with money. Once they need to withdraw cash they are able to go to any ATM within the world and withdraw cash. For clients who want to venture overseas there is the choice of establishing an account and receiving a travel prepaid credit card. This prepaid MasterCard offers clients the freedom to use their debit card throughout the country at the same time as they are traveling. There is no reason to present any hazards to their primary account with the prepaid option. PSI Pay additionally gives a useful option for giving company incentive cards or gift cards. Those cards are a great choice for company items and bonuses. Your personnel or near relatives can be happy to have a source of payment from these preloaded cards. The enterprise pay as you go and government prepaid cards are the answer for executives and employers who want to pay their personnel. It’s easy to make your transfers.

PSI Pay was created in 2007 and that they have enjoyed growth to become an internationally used enterprise for alternative payment options. They are joined by monetary experts and a crew of banking professionals. This top notch backing offers them a robust basis for creating a revolution in virtual payment and it’s the purpose they’ve dominated the market for alternative payments. PSI Pay follows all the necessary tips for reporting and has ordinary examinations to maintain client and information security.

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Luiz Carlos Trabuco Will Replace Lazaro Brandao As Chairman Of Brazil’s Largest Bank

Grupo Bradesco has risen from obscurity to become the largest bank in Brazil, by various measures, over the last 40 years. The remarkable upward trajectory of the bank has been largely charted by two of the firm’s most prominent employees, Luiz Carlos Trabuco and Lazaro Brandao.

Both have been with the bank for their entire careers, having risen from the lowliest jobs at the company to the most exalted positions. And both have been instrumental in the initiatives that have led Bradesco to a more than 300-fold increase in its valuation since the early 1990s.

The departure of Brandao marks the end of a 75-year career and signals the close of the most prosperous era in Bradesco’s history. But Trabuco is the right man for the job. Brandao has said so himself, on numerous occasions. Still, some of the bank’s stakeholders are not fully at ease with the idea of their firm going forward without the man who many credit with its meteoric rise. With all of the fortunes that have been made by those owning Bradesco stock over the last 30 years, it’s no surprise that many of the firm’s owners are not happy to see Brandao go even as he approaches his 93rd birthday.

Read more on Conselho do Bradesco escolhe Octavio de Lazari Junior para substituir Trabuco como presidente

Who will be the next CEO?

As Trabuco moves into the role of chairman, that leaves the question of who will be appointed to be the next CEO of the bank. Trabuco himself will be responsible for appointing his successor, a move that he has until March of this year to make. Trabuco started as clerk and made his way up to the executive level of the bank. He has more than 40 years of experience in the bank.

There were initial rumors swirling that Trabuco was looking for executive talent outside of the bank. He has long been known for criticizing the ability of Brazil to produce top executives, even going so far as establishing the first business school in the country that focuses solely on the development of leadership abilities.

But Luiz Carlos Trabuco was quick to dispel these rumors, explicitly stating that he would not be violating the company tradition of recruiting from within. The fact that he will be selecting his successor from within the ranks of the firm suggest that there are only seven candidates who are qualified to potentially fill the role. These include all of the current junior executives of the firm, of which many have spent their entire careers with Bradesco.

Those familiar with Trabuco and his preferred modes of operation speculate that there are really only two candidates that have a good chance of being appointed the next CEO of the bank. The first is the company’s 57-year-old chief risk officer, Alexandre Gluher according to Gluher has been with Bradesco for nearly the entirety of his career, giving him a large seniority advantage over the other candidates. He was also responsible for the risk assessment and overall risk strategy in the 2015 acquisition of HSBC Brazil, a monumental undertaking that enabled the deal to go through without a hitch.

Many people state that Gluher may not be the frontrunner, however. Even with his seniority advantage and impressive list of credentials, Gluher’s strengths are precisely the things that Trabuco has frowned on as good selection metrics for executives. Instead, Trabuco has been a staunch advocate of meritocratic promotion practices, favoring real-world, tangible accomplishments over paper credentials and soft metrics like seniority.

That would leave Mauricio Minas as the clear favorite to be appointed to CEO. Minas, 56, is the bank’s chief technology officer. He oversaw both the creation of the highly successful Next banking platform as well as the integration of all of the tech assets of HSBC Brazil into Bradesco’s systems.

With Trabuco’s full-body embrace of technology, Minas may soon be changing offices.

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Bradesco’s Stock Is Up By More Than 39 Percent In 2017 According To CEO Luíz Carlos Trabuco

The time to buy Brazilian bank stocks is now, according to the big Wall Street investment firms. The Brazilian government is still a mess, but President Michel Temer is trying to work through the political fiasco. That’s not an easy task, according to some economists. Brazil’s government and the complicated red tape it put in place years ago still holds businesses hostage. Temer is implementing several new mandates, and they will help get the economy moving, but it is a slow process. Some Brazilians businesses aren’t happy with Temer or his government programs.

Former President Dilma Rousseff wants to right the wrong she felt when she got the boot last year. Her supporters are still throwing a lot of political mud at Temer and his administration. Corruption is always the flavor of the day in Brazil’s political scene. But all the political fire and fury and the nasty comments don’t impact the banking industry in Brazil. The banks in Brazil are moneymakers in good and bad economic times. The banks know how to protect their assets, and expand their financial reach by investing, carrying insurance protection, and by taking advantage of some of the government policies that keep the government-owned banks in business.

Not all banks in Brazil function the way Banco Bradesco does, and that fact is becoming obvious to foreign investors. According to 66-year-old CEO Luíz Carlos Trabuco, Bradesco’s stock is making Wall Street a believer in the bank again. Trabuco and the bankers who work with him didn’t waste any time when they put a team of techno-experts to work. Bradesco has a formidable presence online, and the bank’s Personas Project is bringing the bank and its customers closer together. Bradesco knows the spending and buying habits of its customers thanks to the Personas Project, and that gives the bank a closer relationship with its client base. The project also helps the marketing department find new customers. Trabuco’s team is also responsible for putting new incentives in place for customers and those incentives are working.

Follow Luiz Carlos Trabuco on LinkedIn

Luíz Carlos Trabuco doesn’t like to take credit for Bradesco’s success. But the bank knows his worth. Trabuco is only the fourth president in the Bank’s six-decade history, and he is the most popular according to feedback from current employees. Mr. Trabuco is a dedicated Bradesco employee. His banking career is well-documented, and his team’s accomplishments put Bradesco in the running for the title of “the second largest bank in the country.” Bradesco has more than 5,000 bank branches and thousands of service centers around the country. When the Trabuco executive team put the HSBC deal to bed in 2015, some people thought it would take years to sort out all the issues that develop from a large acquisition. But the transition is working better than expected. Bradesco is making believers out of the naysayers. The Bradesco executive team is responsible for the success, according to other bank executives.

Bradesco stock is outperforming Itaú stock this year. And that is a sign that Trabuco and the other bank executives are making the right operational and financial decisions. But even though Trabuco and his team are in the limelight, no one is taking their eyes off the bank’s goal. Bradesco’s Board of Directors wants the bank to be the largest privately held bank in the country in terms of assets. Thanks to the bank’s 2017 performance that goal is in sight. But Itaú Unibanco has the same goal, so the race to the top is far from over.

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