Jim Hickey’s American Politics

Let's Get Real.

Life of Ricardo Guimarães,the President of Banco BMG

It is often said that people who are born with silver spoons in their mouths feel entitled, but it takes a great person to see past the family wealth and work hard to make a name for him or herself. Ricardo Guimarães was born into a wealthy family, actually one of the most affluent families in Brazil, but has always been hardworking and innovative. His family’s wealth came from the Land Credit Bank, which was founded by his grandfather in 1930 and has since stayed in the family. His father inherited it from his grandfather.

Ricardo grew up learning the business and began working in the bank in 1980 as an assistant. Despite already having a job in the family business, he took the initiative of earning a university degree in Business Administration. He continued to learn at the feet of his father in preparation for him to take over the company. Ricardo took over the company in 1998 and is currently the President of the bank.

Many people would say that under the leadership of Ricardo, the bank has flourished and is leading in the Brazilian financial sector. He did this by using a structure that enabled the bank to close deals with limited interests and therefore making it convenient for those who needed personal loans. However, Ricardo did not only focus his wealth and energy on the bank but also made numerous investments in various industries. He always gets motivation from great initiatives which made him invest in agriculture and mining. Nevertheless, Ricardo is not all business all the time. He has an interest in the country’s football which helped him gain eminence in the sports world.

He is quite passionate about the football club, offering sponsorship to the teams and had held command of a group called Alvinegro Club. He also created an investment fund in football athletes known as the Ricardo Soccer BR1. Nonetheless, being an entrepreneur and sports fan that he is, he learnt to strike a balance between the two by assuring the Brazilian people that his bank does not support any particular team. So the bank neutrally sponsors the football games and also uses that platform for advertisement purposes.

Ricardo has over the years earned the respect and admiration of many people in the country including the most powerful people such as the Secretary of State Government and the President of the Legislative Assembly of Minas Gerais. He received an Honors degree in 2011 which was in honour of his committed development of sports in the country. It is safe to say that Ricardo is carrying the family name to great heights.

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