Category Archives: Bank Industry

Bradesco’s Luiz Carlos Trabuco Transitions Out Of The Presidency

Luiz Carlos Trabuco’s storied career at Bradesco Bank is nearing its end, but the decision comes, not at the request of Trabuco, or the company he has expertly led, but due to the bank’s own laws, limiting the presidency to those under the age of 65. Luiz Carlos Trabuco is, in fact, 67. The stipulations were temporarily relaxed following the untimely death of his successor Marco Antonio Rossi, Bradesco’s vice president, in a plane crash. The tragedy occurred just as Bradesco’s acquisition of HSBC’s Brazilian subsidiary was underway. Trabuco agreed to remain with the company, helping to steer it through the tumultuous waters with the steady, guiding hand he is known for.

A graduate of the University of Sao Paulo, Luiz Carlos Trabuco joined Bradesco in 1969, fresh out of college. He has remained with the Sao Paulo-based company ever since, achieving the pinnacle of his profession when he became Bradesco’s President in 2009. His successor as the head of Bradesco, one of the largest banking operations in Brazilian finance, was recently announced, and the choice caught many by surprise. Octavio de Lazari is currently an executive vice president of the bank and CEO of the Bradesco Seguros Group. It was thought by most insiders that the vice president of Bradesco’s technology department, Mauricio Minas, would be the chosen replacement for Trabuco.

Read more: Next Bradesco president to leave the bank’s board of directors, Says Trabuco

Luiz Carlos Trabuco will remain in this role until his successor is installed in office and, like Lazari’s other predecessors, has given his full support to the bank’s new leader. Trabuco has stated that he believes Octavio de Lazari possesses the personal attributes necessary to steer the bank forward on a trajectory of continued growth and influence, nationally and globally.

Octavio de Lazari has big shoes to fill in replacing Luiz Carlos Trabuco according to g1.globo.com. Trabuco’s stewardship saw the bank’s market share in Brazil’s competitive banking sector rise to 26% in 2017, a peak not seen for several years. That was on top of revenue growth totaling 6.8% higher, year over year. With Brazil’s economy set to grow up to 3% over the next year, and low unemployment across the economy, Bradesco can expect to see good results in the years ahead. As for Luiz Carlos Trabuco, well he isn’t heading off to a golden retirement anytime soon. Last fall, Trabuco took over as Chairman of the bank’s board, a position that will allow him to steer Bradesco’s culture towards a sustainable and promising future.

Source: https://oglobo.globo.com/economia/bradesco-anuncia-novo-presidente-octavio-de-lazari-junior-vai-substituir-luiz-carlos-trabuco-cappi-22365414#ixzz56wDld69g

Category: Bank Industry, CEO

Dallas Finance Company & Their Recent Business

A Finance Company and Their Placement Funds

NexBank Capital is a finance company based out of Dallas, Texas. The company issued a private placement of $54 million. Their placement is on a fixed-to-floating rate. The funds are specifically situated for affluent investors with interests in NexBank. NexBank says the proceeds will go towards “general corporate expenses.”

Proceeding the closing, NexBank accumulated a total of $283 million of debt and equity over the course of a year. NexBank Capital’s notes are non-redeemable for five years. The notes have a pre-set payback date of September 30, 2027. NexBank Capital has an interest rate of 6.375% for the first five years of the bond. After the five years, the interest is set at a floating rate that is adjusted according to the specific agreements in place. Proceeding that, there is a LIBOR of 458.5 points that lasts less than 6 months.

NexBank Capital’s notes are designated with a BBB rating. The notes also have a consistent classification with Kroll Bond Rating Agency. The classification is that of Tier 2, depending on capital regulations for the notes.

The closing of notes took place on September 19, 2017. The notes were provided by an afflicted placement agency called “Sandler O’Neill & Partners.”

More About NexBank

NexBank Capital is a finance company that assists their clientele for commercial banking, advisory services and mortgage banking. They operate through their subsidiaries. They work with brokers and dealers, advisors and investors. They founded their company in 1922, in Dallas, Texas.

NexBank currently contains $8.4 billion in assets. NexBank said their management team has experience and expertise in their industry. They aim to administer high-quality financial expertise to clients. The company is co-founded by James Dondero. He serves as the president of the company. Dondero stated that NexBank has a strong management team and years of leadership experience. NexBank believes in making efforts to benefit the company and generate success.

Category: Bank Industry