RICARDO GUMARES; THE MAN BEHIND BMG’s SUCCESS

Banco BMG is private bank owned by the Pentagna Guimares.Its CEO is Ricardo Guimares, who has been at the helm since 2004.The family has run the bank for 85 years since 1930.It offers various financial solutions to people and is the market leader in Consigned credit. It is headquartered in Bero Horizonte Brazil and is affiliated with BMG group of companies. The BMG group of companies is a Dutch bank started in 1889 which allows Banco BMG to raise capital in its Bonds floated in the international market.

Ricardo Guimares is the current CEO of the bank. He has been with the bank since 1980 and currently serves as the president. He started his career when it was then called Grupo BMG S.S de C.V. In 1989 he was named the Chief Financial Officer of the bank. He was appointed the Vice President in 1996 and president in 2004.He is a business administration graduate from the Una Faculdade Ciencias Gerenciais.
Mr Guimares has been with the bank during one of its most crucial periods. He has led it through one of the most remarkable periods in its growth. In 2004 when he took over, the bank had a 20% market share. Today, the market share has grown to 80% in an $ 114billion market. It is important to note that less than 50 % has been penetrated. The Company today has a market capitalization of $ 2.5 billion up from $ 300 million. It also has one of the largest distribution networks in Brazil. It has over 3000 points of sale terminals and 50000 agents located all over the country. It allows it to deploy and scale technology very fast in the entire country.
Guimares is an award winning leader. He has been awarded as the best CEO once in 2012, and the bank is currently the best financial conglomerate in Brazil. He has led it through a significant period. It today has over 5 million customers and growing rapidly. It recently acquired Banco GE and Banco Schain. It also the biggest sponsor of sports teams in Brazil. It sponsors over 100 teams across all soccer division in the Brazilian League. It has also opened a sports TV cable TV that has provided exposure to over 60,000 youths in the soccer wealthy country. Brazilians love sports and soccer is a religion. It has allowed the bank to get one of the biggest reaches in the area. It is today a well-known Brand.
Mr Guimares advice those seeking to enter the market to position themselves well enough. They should hire the best and work the hardest. It is this simple philosophy that has seen it reach this far.

Leave a Reply

Your email address will not be published. Required fields are marked *