When it comes to the face of the banking industry, Ricardo Guimaraes is a man to reckon. He is a Brazilian-born BMG president and the chief executive officer. He comes from rich family, in fact, the founders of Land Credit Bank. A bank that initiated its services in the early 1930s that offered affordable credit to Brazilian peasant farmers. The bank financed them in acquiring heavy trucks for agricultural purposes as well as for private vans and other agricultural equipment. Ricardo Guimaraes attended college to study finance and management that has helped him become one of the most famous CEO in the world
He joined the family business as a chief financial officer at the initial stage of his career path in 1998. Over the years, his vast talent and knowledge in banking saw him rise to the level of the vice president of Banco, BMG. In 2004, he became the president and the CEO of BMG. One of the largest banks in Brazil. Through his leadership, Ricardo has steered the bank tremendously to become among the wealthiest bank asset wise. His commitment and hard work and passion for his job have made the major transformation in BMG and an impact on people’s lives in Brazil.
A company beat its competitors by laying unique strategies and evolving from traditional methods of doing things. Under the throne of Ricardo, BMG does that. BMG has strategies that has made it become a financial giant in the banking industry. The bank focuses on a strategic marketing niche that makes its services accessible to almost every part in Brazil. It has over 3000 points of sales (POS) and over 5000 agents offering banking services to customers and investors in Brazil. This has contributed to the bank making huge profits and in fact controls about eighty percent market share in the banking industry in Brazil.
The bank also offers affordable payroll loans, another profitable strategy that Ricardo focuses on. The facility loan affordability has made BMG to controls over sixty percent in the credit sector. The competitors (over sixty banks) control the remaining forty percent of the credit market. This is an indication of good leadership in the BMG.
Another strategy that Ricardo uses is employee’s retention. In BMG the labor turnover is minimal, in fact some employees have worked for the company for over twenty years. As a manager, he realizes the importance of workers’ welfare and motivation. Employees plays a significant role in the success of a company. He hires the best top team of employees for them to show professionalism and enforcement of work ethics.
His philanthropy goes a long way in sponsoring various aspects of life such as football, education to the needy among other charitable work.