The Brazilian bank BMG Bank has been making changes to it operation for the past year. BMG Bank started working in partnership with Itau Unibanco in the payroll loan segment. The changes have been in the management of the establishment, and in the structure, among other things.
The people on top of the BMG Bank is the Guimaraes family. They will start working at the council of the company’s shareholders and make decisions in the hiring of executives. The land of the BMG Bank is to double the payroll deductible loan portfolio and to eliminate the products that fil to add the value the bank needs.
The current owner of the BMG Bank is Mr. Flavio Penagna Guimaraes. He is the Chairman of the Board of Directors. The position will be given to Alcide Lopes Tapias who ha many decades of experience at the job. Additionally, Alcide Lopes Tapias as worked at another bank as well called Bradesco. Before that, Tapias was the President of the Brazilian Federation of Banks as well as the Minister of the Development of Industry and Foreign Trade.
The Executive President of the financial establishment is currently Mr. Ricardo Annes Guimaraes. He is the heir to the BMG Bank as well as a business partner. The position will be assumed by Mr. Antonio Hermann. He used to be the President of the ABBC or Brazilian Asociation of Banks. Previously, Mr. Antonio Hrmnaa was also the Director of the National Association of Credit Institutions.
Mr. Rivardo Annes Guimaraes has been the President of BMG Bank for more than ten. He stepped into the family business back in 1998. His family has a strong presence in the financial sector. The Guimaraes family started doing business in the finncial sector in Brazil when his grandfather founded the establishment Banco de Credito Predial back in 1930.
Over the course of his leadership, Mr. Ricrdo Annes Guimares brought the BMG Bank to success. The company has had a lean structure for most of its operation, and that has helped it to work in a straightforward manner and close off many profitable deals for the BMG Bank.
The BMG Bank has been around for of ell over 80 years. It has transformed into a leader in the market for payroll lending. The future of the business is bright, and the new strategy for growth will start being in action in the next couple of months.