Month: November 2017

With Trabuco As Chairman, Will Bradesco Become A Banking Monopoly?

Throughout the history of Latin America, the monopoly has played a central, in not entirely wholesome, role. But while even the most ruthless robber baron monopolists of the 19th century could make plausible arguments as to why their businesses were a public good as constituted, the truth is that many monopolies of Latin America have demonstrably made the lives of the average citizen better. Companies like International Telephone and Telegraph, the United Fruit Company and Telmex, while having a stranglehold on their respective markets, brought first-world infrastructure to otherwise backwards and hopelessly primitive societies. Whereas there is little question that the railroads of North America would have eventually stretched from coast to coast and perfused much of the interior, with or without the likes of Stephen J Gould or the Vanderbilt clan, there is a serious case to be made that, without the likes of Telmex, there would simply be no telecommunications at all in the rural parts of Mexico, areas that are often still under the control of Amerindian warlords, such as Comandante Marcos.

Brazil may get a banking monopoly

This leads us directly to the case of Grupo Bradesco, the largest banking conglomerate in Brazil. Its leader for the last decade has been a man named Luiz Carlos Trabuco. Trabuco is an inveterate and sophisticated banker, holding advanced degrees from one of the top schools in Brazil. He has also made it abundantly clear, through deeds, if not words, that his vision for Bradesco is to have it become the undisputed hegemon in the Brazilian banking space. In short, everything Trabuco has ever done in his career indicates that he has every intention of crushing all competition into oblivion and establishing a Brazilian banking monopoly.

Read more on Wikipedia.org

Whether or not this would ultimately be good for Brazil is a matter of debate, with both sides being able to make reasonable points. What is not in dispute is that Trabuco is well on his way to establishing Bradesco as the unquestioned dominant player in Brazilian banking. With the acquisition of HSBC Brazil in 2015, the $5.2 billion cash deal rocketed Bradesco back to the number-one spot in the Brazilian banking sector, a spot that the bank had not held since 2009. Since 2015, the bank’s stock price, long in decline, has soared, indicating that investors are extremely pleased with the strategy that Trabuco has followed. The bank has continued to attack its competition, especially arch rival Itau Unibanco, in all its markets. It is now in a position where it can easily leverage its economies of scale to crush its competitors, pricing them out of the market and undercutting them at every turn.

Although some may argue that a Bradesco that utterly annihilates its competitors, leaving it as the last bank standing, would be a net negative for the country, it is worth remembering that Brazil is still a quintessentially Latin American country. One feature of this Latin American-ness is the fact that the country still has a large number of citizens who are not able to connect online or even operate a computer.

In Bradesco’s own internal studies, it was revealed that approximately 13 million of the bank’s 27 million customers had no access, whatsoever, to internet banking facilities. The bank itself has undergone a campaign to bring both financial and technological literacy to its customers. There has even been talk of the bank providing all of its underprivileged customers with mobile devices, such as Androids or iPhones, in order to allow them to access the much more efficient internet banking options that the bank has on offer.

Learn more about Luiz Carlos Trabuco: https://www.terra.com.br/economia/trabuco-assumira-presidencia-do-conselho-do-bradesco-banco-nomeara-novo-chefe-executivo-em-marco,9fb1d7fe927d7f26678a7543f82f02edw3u6oihm.html

The Financial Investment Prowess of Igor Conelsen

Igor Cornelsen is a retired banker and investor who has spent most of his career in Brazil, his native country. Down in Brazil, Igor Cornelsen manages the nation’s largest financial institutions.

When he is not working, Igor loves to play golf, which is his other passion. Currently, Cornelsen is working with the Bainbridge Group helping it to make investments in the stock market and well as making investments in commodity and foreign exchange. These are some of the areas that Igor is experienced in.

Cornelsen likes to spend most of his time in South Florida, which is a perfect spot for him to play golf. He dabbles in the investment markets occasionally. His experience derived from working in financial institutions and has seen him work as a consultant for the banking industry ad Investing.

Cornelsens Accomplishments

Making investments in foreign exchange and commodities is a dream for many people. The expertise that Igor possesses will provide a guide towards this path. He has established Bainbridge Agency to help with the moves that stock market avails. Being a renowned investment banker in Brazil, Igor Conelsen has helped in the management of financial institutions around the world.

Through Bainbridge Agency, he has provided professional advice and insights in matters pertaining to investments. Igor opines that time is an important factor in business, and the earlier you start, the better.

He says the worst thing an investor will do is to never plan for retirement. This has been as a result of poor advice and this trend, he argues, must change.

Investments are long-term undertakings. Cornelsen has made investments that will last a lifetime. One ought to invest in a career, something that you will do for the most of your life. This will assist you in making handsome and legitimate returns.

The stock market, for instance, offers you an opportunity to make intelligent investments, and the returns will come down the line. Igor Cornelsen prioritizes on his clients in planning and having the best interest of the client at heart. He has a large following of people who are interested in his financial counsel.

Learn more about Igor Cornelson:

5 Ways To Make Your Business Healthier: Investment Advisor Igor Cornelsen Gives His Insight