Marcio Alaor, the Vice-President of BMG, has been following the auto industry for years. BMG Bank has built a solid business lending money over the years, and he knows investing in car companies can be a risky business. One example of the risks involved is the recent Volkswagen debacle. Investors had no idea that the company was tweaking the emission control system. When authorities discovered the tampering, Volkswagen stock dropped substantially.
Marcio Alaor is known for having a keen investment sense. Alaor started his career at the bank as a young man fresh out of school, and he worked his way up the ranks and became the director and Vice-President of BMG Bank. BMG Bank is one of the premier banks in Brazil when it comes to consignment credit. The bank has a product called payroll loans that gives Brazilians the opportunity to borrow money using their income as collateral. Payroll loans are responsible for thousands of car loans, and Alaor says that part of the bank’s business is in a growth mode.
More people are coming into the bank and asking for a payroll loan to buy a car, according to Alaor. BMG Bank had to acquire two more banks recently to keep up with the demand. An article published by Exame.com mentioned Alaor’s interest in automobile companies and the history of IPO’s in that industry. Alaor believes people will continue to invest in automobile companies because the automobile business is making a lot of money.
Alaor has come a long way, thanks to hard work, intelligence and a willingness to help people. Alaor still helps people in his hometown of Santo Antonio do Monte. He donates his money and his time to the place where he started shining shoes to make ends meet. The people in his hometown love him now for being a banker that cares.