Marico Alaor built his reputation on fair deals. He grew up in a small city in the state of Minas Gerais, so he experienced poverty first-hand. In order to help his family, Marcio shined shoes as a boy. Of course, when he was not shining shoes, he was playing soccer in the dirt fields near his modest family house. Alaor got the chance to go to school, and he studied hard. He wanted a career in banking, and he knew exactly what bank he wanted to work for.
Alaor grew up watching the Land Credit Bank of Minas Gerais grow. He watch his friend’s family, the Guimarães family, change the Land Credit Bank into the Bank of Minas Gerais, and he wanted to be a part of that growth. His friend, Ricardo Guimarães, had the same dream as he did so it was only natural that Marcio would go to work for the BMG Bank after graduation.
Mr. Alaor learned the ins and outs of banking by working for the Guimarães family. When Ricardo became president of the bank in 1998, he wanted to put a team together that he could trust, and he knew Marcio had to be part of that team. Ricardo named Marcio Vice-President, and Director of the BMG Bank, and it was game on for the boyhood friends that were now part of the immense banking structure in Brazil.
Ricardo Guimarães depended on Alaor when the decision was made to sponsor the Minas Gerais soccer club. The executive team at the bank decided to sponsor the club and in return, players would wear the orange BMG logo on game days. The idea was to promote payroll loans using soccer players, and the plan worked. After the first couple of matches, BMG Bank’s payroll loan applications substantially increased. Alaor and his team would sponsor seven more soccer clubs over a five-year period, and that decision put BMG Bank in the spotlight.
BMG Bank was no longer a one state bank. Marcio Alaor and the BMG team turned the bank into a major competitor in the consignment credit business.