The Story of the CEO of BMG Bank, Ricardo Guimares, and the Partnership with Bank Itau

The BMG Bank, one of the most influential banking institutions in Brazil, is in the market since its foundations in 1930, when the President of the corporation created a new bank that was intended to fulfill the needs of Brazilians that could not find a quality attendance and better financial accounts at the time. The BMG Bank was created to find solutions to the middle, lower and higher classes of the social pyramid of the nation.

The BMG Bank was created and is owned by the Pentagna Guimarães family, a very wealthy and influential family that is in the banking industry and has a lot of influence in international waters. Initially, the first entry of the family in the banking sector was when they created the “Banco de Crédito Predial S.A.,” which was later renamed to “Banco de Minas Gerais S.A.”

As of 1998, many years after its creation, the BMG Bank changed its perspective and its focus on solutions for financial plans to start focusing on credits and loans. That was one of the most successful decisions of the corporation, and it was supervised by the CEO of the company, Ricardo Guimarães.

Since the very successful BMG Bank, which rivals the biggest institutions in the country (BMG Bank, Bradesco, and Itau Bank), was created and is owned by the Pentagna Guimarães family, this made Ricardo Guimarães instantly enter the banking industry and pursue his career in the field.

Mentioning the Itau Bank, that institution has partnered with the influential BMG Bank, in 2012, to start offering dual benefits for clients of both institutions. This was a big step forward as the two institutions, which are scattered across the territory of Brazil and are the most well-received banks when it comes to public feedback, always had intentions on partnering and offering additional plans for their customers.

As of now, Ricardo Guimarães, from the Pentagna Guimarães family, is the CEO of the corporation, but he used to be the Executive President of BMG Bank before passing the spot to one of his trusted co-workers. As the Chief Executive Officer of the bank, he oversees all of the decisions and is closely paying attention to the market and decides on how to include additional features to their client base every month. This has proven a very effective strategy and one that was meant for Ricardo Guimarães to lead, as the sales and feedback of the Bank is better than ever.

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