Most bank presidents in Brazil sit behind a large desk and attend monthly board meetings to go over assets and future profits. Ricardo Guimarães, the President of BMG Bank, is not like other bank presidents. He spends most of his time planning advertising and marketing campaigns for the bank on the soccer field. Guimarães has become an important figure in Brazil’s soccer world. His family’s bank is connected to the soccer world through sponsorships. Sponsoring Series A football clubs has changed the face of BMG Bank. The bank is known for its orange three letter logo, and that logo has a large presence on football fields across the country.
A Maquinadoesporte.uol.com.br article described Guimarães as a football fan that happens to be a bank president. That description fits Mr. Guimarães. He became a bank president in 1998 thanks to years of study, hard work and a family that has been in the banking business for decades. Grandfather Antonio Guimarães was the first Guimarães to become a bank president and owner. After making a fortune in mining, Antonio opened the Land Credit Bank of Minas Gerais so miners would have a place to put their money.
Grandad Antonio also started lending mining companies money for heavy vehicles, and that business got the bank off to a good start. According to CrunchBase.com, the bank used a lean structure to grow their business. By the time son, Flavio took over the Land Credit Bank was the most profitable bank in the state.
When Ricardo Guimarães became president in 1998, the Land Credit Bank had become the BMG Bank after acquiring two other banks. Ricardo had a plan to expand the bank’s business, and he put the plan in motion in 2008 when President de Silva changed the banking regulations. BMG started offering payroll loans to football fans during soccer matches. Ricardo developed a masterful advertising plan and eventually the bank started to sponsor football clubs.
That move was genius, according to an article posted by Esportes.terra.com.br. BMG Bank and soccer became a sports marriage of sorts. Fans associated BMG with soccer thanks to the three orange letters players wore on game days. BMG Bank’s business exploded, and Guimarães hired more than 700 agents around the country to handle payroll loan applications.
BMG Bank sponsors, at least, eight Series A clubs and has agreements with players from other clubs, so they were the BMG logo on game days. According to the Esportes.terra.com.br article, BMG has invested millions of reais in sports sponsorships, and the bank has plans to expand their advertising and sponsorship campaign in 2016. Guimarães has become an important figure in the soccer world. He is an executive for the soccer association and former president of the Atlético Mineiro football club.