In a sub-section of the banking world where most banks are struggling along with their respective local economies, how is it that two banks in particular are doing so well? The answer may very well be found in an experienced, long-running Brazilian banker and investor by the name of Igor Cornelsen. Two private banks based in Brazil, Banco Bradesco (BBD) and ItauUnibanco (ITUB) have him to thank for their profit increases as well as one-third rise in shares that took place during 2014. With profit increases of 28 percent (Bradesco) and 36 percent (ItauUnibanco), Cornelsen’s influence and abilities should not be underestimated. See more of Igor Cornelsen at resumonk.com
Igor Cornelsen’s first piece of advice to struggling Brazilian banks is to streamline efficiency and cut costs at the same time by working with borrowers who have truly proven themselves worthy of having credit extended to them. From a consumer standpoint this will no doubt cause a lot of frustration, but giving banks the opportunity to get back on their feet financially means they in turn will be better equipped to financially back their struggling countries – in this instance, Brazil. And, as Cornelsen was quick to point out, consumers with lower credit scores or simply less desirable credit can still work with public sector banks, rely on their own cash, stocks, and bonds, or put business plans on hold until a better time. At the same time, Igor Cornelsen advises, Brazil’s own government would do well to pass and implement market reforms in order to give investors a sense of security. Secure investors means prospering banks, which in turn can mean a better-prospering economy.
Cornelsen’s experience in banking and investing comes from both passion as well as time spent in the field. With a knack for investments and general money management, Cornelsen traces his start to several senior positions at multiple leading banks in Brazil. Despite retiring “officially” in 2010, even today Igor Cornelsen can be found giving advice to others on banking, investing, and managing stocks in Brazil, or doing one or two or all three himself. Read more: http://igorcornelsen.wikidot.com/