Vincent Parascandola, Was just a Sales Adviser and Now, the Most Prominent Person in AXA Advisors

He started as a sales insurance agent, but today, he is the most prominent person in the largest insurance company in the world. Vincent Parascandola has proudly held a position as the senior Vice president of AXA since 2008. He has also worked in other departments since he joined the company in 2005 including chief sales officer, and as the president of the continental division and equitable continental division.

AXA advisor is a financial service provider operating worldwide. The company has numerous offices across the country and in most of part of Asia-Pacific, Western Europe, Middle East, and the Far East. Precisely, the company specializes in global insurance and investment management. Over the years, AXA has attracted the top talents that with similar dreams as its own. Today, it has over 5,400 registered representatives in the country and has approximately 43 branches. The recent financial records show that the firm non-banking asset was valued at $1.5 trillion.

Vincent Parascandola started to work in the finance industry since 1987, rendering his services as a life insurance agent at Prudential insurance. Despite the challenges in the sales department, he rose to be the top agent where he received an award as the agent of the year. In 1990, he joined the Mony Insurance as a strategist, and for approximately 14 years, Vincent Parascandola has held various positions in the company until he joined AXA Advisors in 2004.

Before his current position as the Vice president at AXA, Parascandola has served in Advantage group as the president; he has also worked as a co-manager of New York Branch where he has a chance to mentor over 400 financial professionals. Parascandola achieved his Bachelors University, Lubin School. He is indeed cheerleaders who have helped the company transition to the leading companies in the country. Follow his Facebook page to know more

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Bradesco’s CEO Luiz Carlos Trabuco Is Navigating His Bank Through A Difficult Recession

Brazil may be the largest country in Latin America, but size doesn’t matter when a country’s economy slips into a recession. Brazil is pulling itself out of recession mode in 2017, but it hasn’t been easy. A series of political and social missteps, weak commodity prices, as well as a dramatic drop in exports thanks to China’s problems have put Brazil in awful economic shape. But the interesting thing about recessions, in general, is banks usually weather a recession better than most businesses, and that is definitely the case in Brazil.

The banks in Brazil are making money without lending a lot of money due to the credit restriction put in place by the banking industry. One of the top private banks in Brazil, Bradesco, is a good example. Net income for the first quarter of 2017 was R$9.35 billion. That’s a 13 percent increase over the same quarter last year. R$6.7 billion of that income is from financial activities and R$2.6 billion is from pension plans, insurance, and bonds. Total bank assets were up 16.8 percent in the first quarter of 2017. Assets under management rose by 20.7 percent, and shareholder equity was 10.8 percent higher. And, according to CEO Luiz Carlos Trabuco, “The peak in defaults is over.” Defaults were down by 4.9 percent in the second quarter. Loan default concerns are not as high as they were a year ago, but the bank still has a tight lid on lending, according to Trabuco.

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In fact, Bradesco’s 2017 performance is, by anyone’s estimation, a very good one. One reason for the bank’s performance is the leadership of Chief Executive Officer Luiz Carlos Trabuco. On Trabuco’s watch, Bradesco has put its footprint on the social-economic development in the country. The Board of Directors emphasizes business initiatives like the Brazilian Green House Emissions Program, Carbon Disclosure Program, Global Compact, and Companies for Climate Change. The bank’s 60-year-old educational program operates 40 schools in Brazil, and that program will benefit more than 100,000 high school students in 2017.

Chief Executive Officer Luiz Carlos Trabuco was instrumental in the purchase of HSBC’s Brazilian subsidiary in 2015. Trabuco’s work didn’t go unnoticed that year. He was Brazil’s 2015 entrepreneur of the year. The people who know and work with Trabuco were happy to hear about the honor. Trabuco is one of those born entrepreneurs, and he is certainly a banker’s banker.

Luiz was born in 1951 in Marília. Marília is also the birthplace of Bradesco. He is a University of São Paulo graduate, and at 18-years-old, he got his first job at the bank. Trabuco went through the bank’s training program, so he got a taste of every bank position before he got a chance to show his management style. That management style was obvious from 2003 to 2009. That was when Trabuco was the president of Bradesco Seguros. Bradesco Seguros accounts for 30 percent of the bank’s profits today. Luiz did something the other bank executives didn’t do. He put a corporate university together to teach leadership qualities to the executives responsible for each bank division.

Trabuco was able to instill a work ethic in the bank by demonstrating what that work ethic looks like. His workday is long, and then he attends business dinners and industry functions several nights a week to keep the Bradesco’s name fresh in the minds of his business competitors. And his dedication is paying off. Bradesco could be the largest private bank in Brazil if Trabuco and his team continue to expand bank programs and help the Brazilian economy get back on track.