Ricardo Guimaraes Awarded for Contributions to the Brazilian Economy and Athletics

Ricardo Guimaraes received the award of the grand collar of legislative merit for his commitment to promoting the local Brazilian economy. The award was also an appreciation of his efforts and the support that he has extended to the Brazilian sports through personal involvement and funding by his BMG bank. Most importantly, he was recognized as one of the Brazilian investors that have continually stood with the Brazilian economy by investing heavily in the economy not just with his bank but also with several other personal investments.
Ricardo is the current president of the BMG bank, a family owned bank started by his grandfather in the 1930s. He joined the bank in 1980 and rose through the ranks learning and gaining experience to become its president. During his reign, he has initiated transformative innovations that have seen the bank rapidly raise its profitability levels and book a position among the leading banks in Brazil.
Contribution to Sports
Between 2001 and 2006, Ricardo served as the president of AtleticoMineiro, a club he has remained loyal to long after leaving active football management. It is during this time that he developed interests in football and athletics in general. Additionally, during this period that he founded the Ricardo Soccer BR1, a football inclined investment fund. As the president of BMG bank, Ricardo has led the bank to be the principal sponsor of several football clubs as well as other athletics and sports such as volleyball without bias. Currently, the bank is the leading financier to sporting activities in Brazil.
Economic contributions
Economically, Ricardo is constantly championing developments in the country through innovative strategies that he has instituted in his bank whose ripples are felt across the nation. For instance, he introduced payroll loans that have been the leading revenue contributors for his bank. This new bank product has been quickly picked up by other banks in the country that use BMG as their benchmark.
On entrepreneurship, Ricardo recently partnered with the British Institute of Research to fund a worldwide research carried out by Endeavour that compiled the entrepreneurial developments in different countries of the world. He released the research findings in Brazil stating that although the country managed an above average score, there remained so much to learn for the Brazilian youth. He observed that the country had a lot of visionary and creative entrepreneurs; they had to improve on pro-activeness. This kind of involvement and investment in Brazil is what earned him the award.