In mid 2012, BMG closed a new deal with Banco Itau, and ensured it had taken full advantage of being a leader in offering payroll loans. The vice president of BMG, Marcio Alaor appreciated the deal since it would lead to formation of a new bank called Itau BMG Payroll. This new bank was mandated to specialize exclusively on payroll lending while BMG would focus on other products. Before this partnership, BMG had five million clients of payroll lending, and they expected Itau to increase that number by 3 million. The article was reported on Economia on http://www.em.com.br/app/noticia/economia/2012/07/14/internas_economia,306005/parceria-bmg-e-itau-nasce-um-banco-de-r-1-bilhao.shtml.
The objective of this joint venture was to make US $1 billion every month, and the condition for that was to use their correspondents who were about 700 at that time. They wanted to rely on these correspondents in order to achieve their target on time. Indeed, the deal was not supposed to be internal competition since it was defined very well. Those who were current clients at BMG and wanted refinancing were provided with their facility at BMG, while new clients were to financed by Itau. That is how deal was to ensure no competition would take place.
Basically, it was expected BMG’s portfolio would decrease within the cause time as new clients were taken up by Itau. As the vice president of BMG, Marcio Alaor said they executive team would ensure the venture would succeed, and today BMG is a leading provider of payroll loans in Brazil.
Marcio Alaor gave an opinion on the top airlines in 2015. On top of his list was Qatar Airways which has a fleet of 158 aircrafts traveling in 146 destinations across the world. Singapore Airline was second in his rankings. This company was formed in 1972, but their top class service was recognized by Marcio. On position three was Cathay Pacific Airways, owned by a Hong Kong company. It has 150 aircrafts traveling to 191 destinations in 51 countries. These are the top three airlines according to the Brazilian entrepreneur Marcio Alaor who went ahead to give the top 15 airlines in 2015 in his opinion.