Ricardo Guimarães Honored.

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Ricardo Guimaraes‘ contribution to the success of Banco BMG deserves recognition. He recently received an honorary diploma from the city council of Belo Horizonte.


He has had a fulfilling career as an entrepreneur and head of the Pentagna family business. He was born to the Pentagna Guimaraes family as the son of Flavio Guimaraes. Early in his career, he served as an office assistant for the family business. He also sharpened his skills with business administration course.


Guimaraes has also been recognized for his social enterprise. He has been an outspoken member of society and an ambassador of the youth. He identified sport as an excellent way to develop talent and reach the youth. Since sports have a huge following in Brazil, Guimaraes used the platform to develop the talent as well as promote the BMG brand.


Guimaraes is a confessed lover of sports, especially tennis, volleyball, and soccer. His intervention saved Atletico Mineiro and gave the club a new lease of life. He acted as the club’s president for five years. During his tenure, the club did well and rose through the ranks of the division.


Five years ago, he led BMG to invest in the welfare of professional athletes through a tailored fund. To many, Guimaraes is a true statesman who teaches many lessons about service to the community. Guimaraes on his part felt proud of the recognition stating that his happiness lies in continuing the legacy of his ancestors. He also expressed his love for the town of Belo Horizonte and its people.


Guimaraes changed the fortunes of the BMG bank since taking over in 1998. He restructured the bank and engaged the services of agents. The bank offers low-interest loans to an increasing middle-income population in Brazil. Their brand has become popular in Brazil especially among the youth. Clients and investors shoe confidence in BMG. Regarding technology, BMG acquires the latest technologies for delivering its services.


BMG has made alliances with other firms in the capital markets around the world. They can access capital for expansion drives and other ventures. Guimaraes feels the banks now needs to diversify its operations to stay profitable.


Their new partnership with Itau Unibanco sees the formation of a new payroll loan firm in the Brazilian market. BMG will control less than 50% of the venture and expects to earn huge profits. However, it will not lose the consigned credit markets share.


Link to original article: http://www.cmbh.mg.gov.br/noticias/2011-04/camara-homenageia-presidente-do-banco-bmg-0