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BMG Makes Changes in the Bank’s Direction
Banco BMG recently formed a joint venture with Itau Unibanco to operate in the loan payroll sector. BMG’s plans are to create a process that makes its management more professional, with respect to the hiring of executives. The Petagna Guimaraes family has always controlled the entire BMG Company, until now. The family plans to become part of the shareholder council, which will open up the company to external investors and market professionals. The reorganization of the company will include eliminating products that do not add significant value to the firm and an eventual doubling of the existing payroll deductible loan portfolio, which is BMG’s main and most lucrative product.
As the institution switches from a private to public firm many changes will occur for example, Flavio Pentagna Guimaraes will no longer be the chairman of the board, with the position being handed over to the President of the Brazilian Federation of Banks, Alcides Lopes Tapias. Executive president, Ricardo Annes Guimares’s position will be passed to Antonio Hermann, another well qualified individual.
Bano BMG’s immaculate reputation and over 80 years of experience will continue into the future says the new CEO, Hermann. The Itau Unibank currently manages $27.42 billion in assets, which will increase with the joint venture with Banco BMG. Some consumer credit and finance services will be reduced and even eliminated, as these are not BMG’s main areas of expertise. The consumer finance and credit services were added when BMG acquired Banco Schahin and GE Money last year.
Ricardo Guimaraes is the son of financial tycoon Flavio Pentagna Guimaraes who is responsible for the creation of BMG, which is Brazil’s largest provider of loans. The BMG bank functions on a lean structure with low interest rates and provides services mainly to the low-paying public sector. The Pentagna Guimaraes family to which Ricardo belongs is one of the wealthiest and most powerful families in all of Minas Gerais, Brazil.
Ricardo Guimaraes’s immaculate career began well before his participation in BMG. Ricardo was a prominent sports figure with a passion for the alvinegro club, Atletico-MG; he took command over the club until Ziza Valadares took charge. Ricardo and BMG believe in supporting struggling athletes who are dedicated, disciplined and commited to reaching their goals and fulfilling their dreams. Ricardo believes the values that these sports personalities have exactly what BMG encourages with its employees.
With over 1.2 million licensed and non-licensed attorneys, Brazil is one of the countries that is dominated by legal professionals. The Brazilian Law borrows most of its contents from the Portuguese Law. It came into practice back in 1822 after the country cut ties with Portuguese colonialists. The country’s first law schools were set up in São Paulo and Olinda five years after gaining independence.
Brazilian Law Practice Requirements
To practice law in Brazil, one has to sit for and pass vestibular examinations, get an LLB, get an internship, pass the national bar examinations and get a license from the OAB. Vestibular exams are like the law school entry exams given in other countries. Law schools that operate in Brazil are mandated to comply with the regulations of the Federal Ministry of Education and OAB’s National Commission on Legal Education.
OAB is the only government-credited institution in Brazil that offers bar exams and licenses lawyers. The minimum requirement for seating for OAB exams is an undergraduate law degree. The OAB also offers specialty programs on corporate law, criminal law, tax law and constitutional law. One must first pass the OAB examinations to gain admission to the Brazilian Bar.
About Ricardo Tosto de Oliveira @ https://ricardotosto.blog/
As an expert in litigation, Riccardo Tosto de Oliveira Carvalho is among the most sought-after lawyers in Brazil. He is a name partner of one of Brazil’s top litigation law firms known as Tosto Barros Advogados Associados. Ricardo Tosto de Oliveira Carvalho is an LLB graduate of the Armando Alvarez Penteado Foundation (FAAP).
Ricardo Tosto de Oliveira Carvalho offers legal advice on litigation matters to corporations, public figures, and non-governmental organizations. Before he became a name and founding partner of Tosto Barros Advogados Associados Advocacia, he practiced litigation law at Leite Tosto Barros. Ricardo Tosto de Oliveira Carvalho is passionate about passing his skills to young and ambitious attorneys. Tosto Barros Advogados Associados currently recruits interns to benefit from Tosto’s impressive skills.
Brazil has more than 181.000 laws. It is a Civil Law country since its legal system is based on Civil Law tradition. The Federal Constitution (in force from October 21st, 1988), is the country’s supreme rule. Brazil’s 26 federate states have powers to adopt their own laws and constitutions; however, their independence is restricted by principles established in the Federal Constitution.
Practicing Law in Brazil
The legal profession in the country is regulated by the Order of Attorneys of Brazil. The AOB is headquartered in Brasília, Federal District. As of 2013, the AOB had 847,921 lawyers. Everyone who wishes to practice law in the country must register at the Order of Attorneys of Brazil (AOB). The organization is not regulated by the government, but it has public powers such as applying disciplinary action over its registered members.
The Bar exam
Bar examination takes place nationally every March, August, and December. The Order of Attorneys of Brazil unifies and organizes the Bar examination. A student will need to take five years in a law school before being able to take the examination. The bar examination consists of two phases: the written test and the multiple choice test.
Ricardo Tosto de Oliveira Carvalho
Mr. Ricardo Tosto (11 of March of 1963) is an acclaimed author and lawyer. Ricardo has a solid education background having studied at Mackenzie University and Fundação Armando Alvares Penteado (FAAP). After finishing his studies, he worked in different law firms before co-founding Leite, Tosto e Barros Advogados.
Leite, Tosto e Barros Advogados is a top Brazilian law firm that specializes in business law. The firm provides comprehensive legal assistance to companies in different sectors. The firm is headquartered in São Paulo but has branch offices in Brasilia and Rio de Janeiro.
Ricardo has successfully represented high-profile individuals, local and international organizations and even governments. Mr. Tosto actively championed for the adoption of several legal mechanisms that as of today are being used in the Brazilian legal community. Mr. Tosto is also a reputable author and has co-authored and authored several books including O Processo de Tiradentes.
On August 11, 2015, the Business Wire in San Antonio, Texas released: Frank Guerra IV was appointed Co-Lead Counsel in Minnesota farmers’ class action litigation against Syngenta Biotechnology, which summarily lowered the United States corn market price. He hopes to bring justice and financial compensation to businesses damaged by Syngenta corn.
Syngenta Biotechnology patented insect resistant corn, which was expected to improve public health and benefit American farmers and consumers. Approved by the USDA, EPA, and FDA, the genetically modified corn was not approved for export to China, which purchases 24+% of all exported corn, until December 2014. Louisiana corn exporters, Syngenta’s largest in the United States, sued Syngenta for unfair trade practices, which additionally tainted the U.S. corn supply through cross-pollination.
Frank Guerra of Watts and Guerra, LLC have initiated massive class action suits against automotive and automotive product manufacturers, pharmaceutical companies, and prosthetic medical product manufacturers, and surgeons. Watts and Guerra also negotiated a $43 million settlement in a class action suit against a nationwide securities trading firm.
Mikal Watts’ class action civil litigation has been the subject of discussion on ABC World News, CBS Evening News, Dateline NBC, and CNBC. His successes were portrayed in the Wall Street Journal, USA Today, the Washington Post, and the Associated Press. Most notably, Mr. Watts’ sued Bridgestone/Firestone, Inc. and the Ford Motor Company when American consumers were dying in as a result of defective tires, which Firestone and Ford Motor Company had already recalled in other countries. He has been recognized by the New, York, Alabama, Florida, New York, Minnesota, Mississippi, and California courts to practice pro hoc vice.
Mikal C. Watts, a Martindale-Hubbel AV Rated Lawyer, Texas Super Lawyer since 2003, served the Hon. Thomas R. Phillips, Chief Justice of the Supreme Court of Texas as an attorney of briefs. Mikal Watts formed Watts Guerra LLP with Francisco Guerra IV in 2009 to litigate complex personal injury cases and class action torts, product liability and defective product civil litigation.
Mikal Watts and Frank Guerra won a class action suit against Sulzer Orthopedics in Helen Rupp and Bernard Rupp v. Sulzer Orthopedics, Inc., a case of defective replacement hips in Nueces County, Texas. In Sanchez, Margarita “Margie,” Sanchez, et al v. Parke-Davis, they won a suit based on adverse effects of Rezulin, a prescription drug.
Other notable legal victories of Mikal Watts and Frank Guerra are: Stand ‘N Seal Litigation in Atlanta, Georgia, Silica Products Liability in Corpus Christi, Texas, Levaquin Product Liability, and John Schedin v. Ortho-McNeil-Janssen Pharmaceuticals, Inc. in the United States District Court, District of Minnesota. Watts and Guerra won FEMA Trailer Formaldehyde Products Liability Litigation and an appeal to the Fifth Circuit Court of Appeals.