BMG Continues To Grow Under Ricardo Guimaraes
Flavio Pentagma Guimaraes, a large and successful investor and entrepreneur in mining and agriculture, is the father of Ricardo Guimaraes. Ricardo Guimaraes was born in one of the richest and most powerful families in Minas Gerais. Ricardo Guimaraes is however recognized for his role as the president of BMG bank.
Ever since taking over the management of the bank in 1998, Ricardo Guimaraes has shown his great talent of innovation and hard work. He turned BMG bank into the National Loans leader shortly after taking over. The connections and interests of the Guimaraes family in the financial sector date back to the early part of the last century. In 1930, the grandfather to Ricardo Guimaraes, Antonio Mourao Guimaraes, founded the Land Credit Bank.
Ricardo Guimaraes’ management has seen the bank come up with a strategy to become a leader in Brazil’s consigned credit monitoring market. The bank’s operations are handled by a lean and efficient team as well as consultants who are spread across the country. BMG’s main focus is offering low-interest credit to an audience whose default level is low. This has worked for the good of the bank, making it the leader in the industry.
Apart from running BMG successfully, Ricardo Guimaraes offers sponsorship to various football teams as well as athletes in Brazil. At the moment, BMG is the biggest sponsor of football in Brazil. BMG bank receives good returns from the investments made in the sponsorships. The sponsorships are also functional for BMG in the area of advertising. The bank achieves enormous visibility by stamping its three orange letters in the various clubs it sponsors all across the country.
Ricardo Guimaraes’ love for football does not end at the sponsorships and his support for Clube Atlético Mineiro. His love has seen him chair the Alvinegro Mines, a position he took to succeed Nelio Brant. Ricardo managed the club for half a decade before being succeeded by Ziza Valadares. His commitment to the club was exceptional. He assisted the team during difficult times by contributing money from his own pocket. His commitment has earned him a lot of respect a decade after leaving the club, from both the board and the fans.
When it comes to the future of BMG, Ricardo Guimaraes continues to bank on firm and strong payroll loans as the main product offered by the bank.