BMG banker Flávio Pentagna Guimarães dies at 94 – 01/19/2023 – Market

Bmg bank announced the death of banker Flávio Pentagna Guimarães, shareholder and former president of the group with the same name. He died this Thursday (19), in Belo Horizonte, aged 94.

In the note, the bank highlights that Guimarães was a visionary entrepreneur and that, throughout his life, he developed business fronts in different segments of the economy.

According to the institution, the businessman was responsible for making Banco Bmg the first financial institution to offer payroll loans in the country.

The institution begins in 1930. The family entered the financial sector with the creation of Banco de Crédito Predial SA (later called Banco de Minas Gerais SA) to act as a commercial bank, offering products to individuals and companies.

The Bmg group includes companies operating in the financial market and in the innovation, technology, agribusiness, logistics, real estate sectors, among others.

In 2012, the Minas Gerais bank announced a change of command, in which Flávio Guimarães left the presidency and became part of the company’s shareholder council.

Also in 2012, BMG and Itaú joined together to create Itaú BMG Consignado, to sell this type of credit. The partnership ended in 2016, with the sale to Itaú of the Minas Gerais institution’s share in the business.

Through its Twitter account, the Atlético Mineiro club mourned the death of Guimarães, father of the chairman of the Deliberative Council, Ricardo Guimarães. “Flávio was an icon of entrepreneurship in Brazil and one of the greatest entrepreneurs in Minas.”

Coimbra Sports, from Contagem (MG), a club of which Ricardo is director, mourned the businessman’s death on social networks. “The board, employees and athletes of Coimbra express solidarity with Dr. Flávio’s family and friends. The Club declares official three-day mourning.”

The businessman, who was a widower, leaves five children (Antônio, João, Regina, Angela and Ricardo), 12 grandchildren and 12 great-grandchildren.

The burial will take place this Friday (20), in the capital of Minas Gerais. The cause of death has not been reported.