Being the second largest and eighth largest economy in South America and the world respectively, Brazil has been among the top traders globally. This country has in the past few decades managed to grow extensively to be one of the biggest trading partners for most of the countries in the word. Due to its economic growth and success, the country has grown to the extent that it was able to host the World Cup last summer. During this year’s summer, the country is expected to host the 2016 Olympic Games in its Rio. According to an experienced business person and investor from Brazil Igor Cornelsen, the coming Olympic games will be a true test for the countries economy and its stability. The country was recently trying its new economic matrix to help boost its economy further, will be able to gauge the might of its economy during this time. Igor Cornelsen says that the country will have no option but to move back to its market-oriented economy which has so far helped the country come this far to support this event.
Igor Cornelsen says that the country’s new economic matrix badly affected stock prices. The effect was so bad especially on those sectors that related to the government. During the period for this economic plan, the country recorded a GDP growth rate below 2%. As the figure stood at $2.5 trillion, most investors had lost their confidence in the economy as it had been going down for over six years. Igor Cornelsen states that natural resources which are available in plenty in the country and stable agriculture production are the supporting pillars of this countries economy. The country also has a fast growing middle class that has the potential to change the country’s economic face if it is empowered.
Igor Cornelsen goes ahead to add that market-oriented reforms working together fiscal austerity offer the best possible chances for the country to succeed. Most of the investors in this country’s markets are careful to evade any negative reaction that may arise in the economy. This prominent stock markets investor adds that Brazil should also concentrate some of its efforts to its major trade partner, China. He says that China may have a great role to play in the revival of the country’s economy as both countries have an intrinsically linked economy. As the Chinese economy grows and gets stronger, Brazil might be able to borrow a leaf and also grow as its raw materials will be able to get good prices. The country should also check its markets and rectify its overvalued currency. Igor Cornelsen says that economic sagas such as that of Petrobras badly hurt the nation’s economy. The country should fight corruption within its government and try to cut down on its expenditure. This money as Igor Cornelsen says should be used to provide more opportunities for the country’s middle class.
Banco BMG has made much progress especially after it formed a joint venture with Itau Unibanco to operate in the payroll loan segment. This process was meant to make its management more professional through the hiring of new executives. The changes involved include a structure that will fit the Pentagna Guimaraes family that has always controlled the company to join the new group of professionals.
The primary aim of this process is to ensure the new move of doubling the payroll loan portfolio is well-managed as products that do not add value to the bank will be eliminated. After the process of joining is completed, it is expected that the Chairman of Directors currently held by Flavio Pentagna Guimaraes will be passed to Alcides Lopes Tapias. He has been very successful for managing Itau Unibanco and Bradesco and being the president of Brazilian Federation of Banks and experience in the Ministry of Development Industry and Foreign Trade.
The executive presidency will also be passed from Ricardo Annes Guimaraes to Antonio Herman. Herman was previously the executive President of Brazilian Association of Banks (ABBC). Indeed, BMG has had an upward progress over the last 80 years. Being the market leader in the credit business in Brazil, the trend going forward should be to maintain this position by offering the best services. However, the names of the two executives will have to be approved by the board and the central bank. The new Itau BMG consigned bank would aim to supply, market and distribute the payroll loans.
BMG gained in market share this year when it acquired Banco GE Capital S/A, the provider of General Electric (GE) services and promoter of sales from GE. Ricardo Guimaraes is the son of Flavio Guimaraes and grandson of Antonio Mourao Guimaraes. 1980 is the year he began working for the family business as an office assistant until he graduated in 1988 with a Business Administration course from UNA.
Having served as the former president and businessman of Banco BMG, Ricardo Guimaraes received a city council Merit Honor diploma in 2011. The award was in recognition of the work done by Ricardo Guimaraes from 2001 to 2006 as the president of the company. In his speech, Ricardo Guimaraes said that he was humbled to have been given the position and said that Belo Horizonte is still his professional and family roots.
The ceremony was attended by many dignitaries including the Secretary of State of Government, Danilo de Castro, Municipal Secretary of Finance, Jose Afonso da Silva and President of the Legislative Assembly of Minas Gerais (ALMG), Dinis Pinheiro (PSDB) among other dignitaries. Being one of the richest and most powerful families of Minas Gerais, the family is also respected for their success in business especially in the financial sector that started way back with their grandfather of the current president.
Based out of New York City, CCMP Capital Advisors is a global private equity investment firm that specializes in four different areas of investments. They have invested over a billion dollars in equity growth and transactions with continuing to increase their business revenue each month. CCMP Capital Advisors come from a long line of investment companies that have grown, branched off and bought out other companies to produce a high quality, solid company. The four different areas of investments that they are healthcare industries and companies, chemical and energy businesses, consumer and retail businesses as well as industrial companies. All of which require some sort of high quality investment strategies to ensure that their company is running smoothly, and that will most definitely happen when working CCMP Capital. Their quality assurance and company skills offer high efficiency standards that cannot compare to most. Their business structure and model along with their company’s expert composures lead them to be one of the most enduring world-class investment partners. Their reputation stands to affirm their hardcore values in the investment equity business.
Aside from their success and buyout growth business came the history of how the company became so successful. One of the men that were behind the scenes working to get the business to where it is today is Stephen Murray CCMP Capital. He was a successful investment partner for many years, with many successful companies. He originally started his career as an analyst for Manufacturers Hanover Corporation in 1984. He was attending college at the time, studying economics at Boston College. He graduated with his bachelor’s degree in economics and decided to go further, and get his master’s degree. He attained his master’s degree in business administration in 1989 and began to get more involved with the investment communities. Throughout the years, he was still an active trustee at Boston College where he considered spending his time to be a valuable asset. He was part of many popular major companies taking part as a board member. Some of the companies were Cabela’s, Aramark, Generac Power Systems and Legacy Hospital Partners. He was a philanthropist at heart, and enjoyed helping the public out as much as he could. He took great effort in participating in the Make A Wish Foundation and helped with the Boston Food Bank.
As a very involved man in many investment companies, he became the co-founder of CCMP Capital in 2006 and became the CEO in 2007. CCMP Capital is a branch of J.P. Morgan Partners and Chase, one of the leading brokerage businesses in the world. Murray worked very hard to get CCMP Capital Advisors to the successful company that it is today. He died in March of 2015 and will be remembered for his success and hardworking efforts.
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