Under Ricardo Guimares, BMG Bank Makes Strategic Changes in the Management and Direction

BMG Bank of Brazil is known for best banking products and highest quality solutions that are spanning over eight decades. The banking firm has gone through some radical changes in its management and direction, per the latest reports. According to Diario Do Comercio, the bank has decided to add more professionals to the management under the leadership of Ricardo Guimarães, the President of the banking firm. Especially after creating a joint venture with another bank Itau Unibanco to generate payroll loan segment, the bank started the process of hiring more executives from the market to its top management. Interestingly, Pentagna Guimarães family, the controlling family of the bank, would just start leading the shareholders’ council of the bank, hereafter.

It has set goals like doubling payroll deductible loans and stop the products that are not adding value to the business of the bank. A number of significant changes in the leadership of the bank including the Chairman, President, and more of the bank. The Chairman of Director Board, Flavio Pentagna Guimarães would move out from the role and Alicides Lopes Tapias would replace the role. Tapias previously collaborated with Bradesco and Itau Unibanco in various roles and serving as the President of Federation of Brazilian Banks or Febraban.

Additionally, the executive president of the firm which is currently held by Ricardo Guimarães, the heir of the bank, would go to the hands of Antonio Hermann. Interestingly, Hermann held positions such as Presidency of ABBC or Brazilian Association of Banks and director of Febraban, Financing and Investment, and more. Herman confirmed that the firm has more than eight decades of business, and it is the leader in payroll lending with excellent quality services. Per the latest information, the new changes in the management of the firm needed the approval of the Central Bank of Brazil as well as the council of shareholders. However, there is no deadline has been set for them to assume the new roles.

Ricardo Guimarães is a highly successful businessman and investor with interests in different segments including coffee plantations, cattle, and canning factories. While coming to his professional life, he is known as a man of large-scale initiatives. He led the revolution of payroll deductible loans as well as personal loans in BMG and made the bank the biggest operator in the sector in Brazil. Guimarães also implemented a novel lean structure that uses consultants who are spread across the country to execute sales.

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