Ricardo Guimares is a name that evokes mixed feelings in Brazil. On one hand, many competitors shudder with fear trying to guess his next move and on the other, ordinarily day Brazilians celebrate him on the streets and honor him with degrees.
Guimares has achieved what was formerly thought impossible. He has managed to steer a former miners bank from obscurity to today when it is one of the largest. It today has 5 million customers in the consigned credit department. It controls 80% of that market thanks to Guimares efforts in playing that field. He has turned the fortunes of this bank around in his time at Banco BMG.Market capitalization has grown from $ 300 million to $ 2.1 billion.
Ricardo Guimares is the grandson of the famed banker Flávio Guimarães Pentagna.It is Mr. Pentagna who started the bank back in 1930.Guimares joined this family business in 1980 as an office assistant. The ever hardworking Guimares completed his Business Administration degree in 1988 and was named the CIO.Guimares was named the vice president in 1996 and became president in 2001.He has been CEO since 2004 but gave up the president seat in 2006.
Guimares was recently honored with an honorary degree by the Bero Horizonte town hall. It was a colorful ceremony attended by the high and mighty in the state. The award was presented to him by the deputy governor. It marks a continuing tradition of senior BMG receiving accolades from their contributions.Marcio ALour was recently surprised with a food court and a town square plate named after him.BMG hires only the best and brightest, and they go on to make a big difference in her society. He deputy governor praised Guimares for his sense of patriotism that starts at home. He said it was the best way to develop the country.
Ricardo Guimares is himself a big soccer fan. So big that he recently started a hedge fund to support soccer players. The fund identifies promising players and brands them appropriately. It then seeks to promote that brand and cash out from that brand. It is a genius way to make money for a player and fund.
Banco BMG has always been a big sponsor of sports in Brazil. Its name appears in over 100 soccer teams from all the Brazilian leagues. The bank recently announced Marcio Melo as its latest sponsor. He will fly the companies flag all over the world.
Banco BMG has over 3000 branches with 50000 agents. It recently merged with Bank Itau to create BMG ITAU PAYROLL.
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