Ricardo Guimares is a man born to a business family and seeking to continue that reality. He has achieved a high level of success in a crowded field of banking.Guimares has grown his grandfather’s bank from a small bank to one of the largest in the country. It has increased 17 fold in less than a decade and today has a market capitalisation of $ 3 billion with an asset base worth R $ 29 billion.
Antonio Guimaraes founded Banco BMG in 1930.It was meant to serve primarily as a miner’s bank and served as a payroll processor for many decades. When Guimares took over in 2004, he expanded into the Personal credit sector. It was an area with low default rates. It is this that prompted him to start provisions for the cheapest form of consigned credit for Brazilians.
Today, Banco BMG has merged with Itau to create BMG ITAU PAYROLL. The new bank is expected to leverage the strengths of BMG with those of ITAU.BMG has an extensive distribution network and pioneered the use of USSD mobile banking in Brazil.Itau has this year posted impressive results with 36% increase in profits and its stock price up by 28%.
Ricardo Guimares is a big sports fan. He supported Clube Atletico Mineiro and served as its president for five years. During that time, he did his best and today is a club legend. Ricardo has also started a hedge fund that targets future players. It builds their brand and creates it to enable them to monetize the effort. It currently has R$ 20 million in funding and is growing fast.
Banco BMG is the leading sponsor of sports in Brazil.It sponsors over 100 teams in various divisions of the Brazilian league. It has posted the highest returns on a per dollar invested. More than any other brand. It recently announced Marcio Melo as the newest signing.Melo is expected to fly the banks colours high as he seeks more glory at the Olympics.
Soccer is big in Brazil, and over 70 million watch matches each weekend. It is a huge market that BMG gets access to every weekend.
Guimares is a Business Administration graduate. He has achieved a great deal of success thanks to his hardworking nature and relentless pursuit of perfection. He advises any brand that seeks a piece of the Brazilian market to hire the brightest and work hard. Visit wiki to know more.