Banco BMG under Ricardo Guimaraes

The article “BMG makes changes in the bank’s direction”, discusses the new management takeover in the Banco BMG. The bank entered into a new collaborative venture with the Itau Unibanco to take the bank towards a new direction. The new venture would remove the Pentagna Guimaraes family from the management to the shareholder’s council. The Pentegna Guimaraes family will concentrate with the shareholder’s council and let the professionals take over the management of the company. The new venture would also see the bank double its payroll portfolio while also eliminating the products that are of no value to the institution’s business operations.

Among the new changes, including the removal of the owner, Flavio Pentegna Guimaraes as the board chairperson. The former trade minister and Brazilian Federation of Banks Mr. Alcides Lopes Tapias would occupy the position of the board chair. Ricardo Annes would pass the position of the executive presidency to Antonio Hermann. Mr. Antonio served as the president of The Brazilian Association of Banks, director of Febraban and Acrefi. With these new changes, the BMG is in the right direction towards maintaining its leadership position in payroll lending.

The new management in place has made it their priority to ensure that they maintain the BMG’s top position and even improve the institution’s position in the region. What remains before the implementation of these changes is the approval of both Mr. Antonio Herman and Mr. Alcides Lopes Tapia by the shareholder’s council.The new management would seek new strategies for attaining bigger payroll loan portfolio.

About Ricardo Guimaraes

Many people would only know Ricardo Guimaraes as the Banco BMG’s president and heir. What most would not know is that Ricardo also has a big interest in mining where he continues to make fortunes like other mining businesspersons. Ricardo Guimaraes is Flavio Pentegna Guimaraes’ son and has worked in the Banco BMG since 1998. Since 1930 when his grandfather established the Banco De Credito Predial, the family has maintained links with the financial sector.

Under Ricardo Guimaraes, the bank moved from an average family business to a market leader in payroll loans and personal loans in Brazil. Ricardo Guimaraes utilizes the lean structure in his business dealings when closing important business deals. He also aims to minimize the interest loans while also ensuring low delinquency. His business insight has ensured that Banco BMG remains on top and the current management takeover is Ricardo’s strategy of ensuring his dream for the institution lives on even after his demise.

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