Time has entered April, and Sanjes has been focusing on the merger and acquisition of banks most of the time. Americans have come, and it is impossible to change anything. Just a little trick will be enough.
If the sky falls, there will still be tall people from the Radical Party and people from the National Oil Company blocking the way. If we can no longer afford it, we will just lift the table.
The time has come to form a consortium, and it will be really late if we delay it any longer.
Sanjesé is a person who makes quick decisions. Acquiring banks is beneficial to the development of the Argentine consortium. Moreover, he now has the confidence to start a development bank. American Sequoia is also an important source of support for him.
It only needs to be developed as planned after the acquisition. The current Argentine bank cannot be said to be bad, but it can be said to be very bad.
The main reason is that Argentina's financial market is currently underdeveloped, banks are unable to develop and become stronger, and various systems are imperfect, which is the so-called barbaric growth.
Nowadays, the business scale of various factories is growing rapidly. If you only cooperate with other banks, neither safety nor risks can be guaranteed. It would be much better to have your own bank.
As the core of the consortium, the bank helps him connect and control major companies and factories. It can also do foreign exchange business, truly help its companies take the route of multinational companies, and can also provide itself with loans.
He sent his capable men to negotiate with the Johnson family in Putrajaya to acquire Barron Commercial Bank.
Barron Commercial Bank is a private, family-owned bank in Putrajaya. Founded in 1890, it is one of the oldest banks in Argentina.
It currently has deposits of 570 million pesos, loans of 300 million pesos, debts of 120 million pesos, and bad debts of up to 70 million pesos. It has more than 110,000 customers in total and 13 business outlets in the city. It is a standard family bank in Argentina.
The number of employees of Barron's Bank is not large, with only more than 600 people. In terms of the scale of Buenos Aires, it ranks around 20, which is far lower than that of several other private banks. Most of their deposits are in Over 5 billion pesos.
The Johnson family comes from Italy and immigrated to Argentina in 1850. They started in the retail industry and later opened a bank. They are now the fourth generation of the banking family. Their fourth generation heir, Bernard Johnson, is not good at banking and has no other heirs. , simply put it up for sale. This bank is actually quite high quality.
Barron's Commercial Bank was founded in 1890 and has a long history, even longer than many American banks.
At the beginning, many Italian immigrants had two choices: one was to immigrate to the United States, and the other was to immigrate to Argentina.
It is estimated that a medium-sized consortium may appear when the Johnson family immigrate to the United States.
Therefore, the external development environment of a family is also very important. Even if one generation makes a little progress, the gap between several generations will be as wide as heaven.
In the past two years or so, the situation at Barron's Commercial Bank has not been very optimistic.
It is becoming more and more difficult to develop customers, coupled with the scarcity of funds, there have been runs. Fortunately, the situation is gradually becoming clearer and it can continue to exist, but it has also lost a lot of deposits and customers.
The acquisition went smoothly, and the Johnson family was preparing to move to the United States. They were completely disappointed with Argentina, and now it seems that Argentina will continue to decline.
St. Jose expressed regret for what happened to the Johnson family,
St. Jose eventually used a new company, Barron's Financial, to fully own 100% of Barron's Commercial Bank.
It doesn't matter whether you change the name or not. The name is pretty good, so I'll just keep using it.
But in order to show its ambitions on a full financial scale, Saint Jose changed the name of Barron's Commercial Bank to Barron's Bank, removed the word "commerce" in the middle, and added many new businesses.
Then it will be transformed according to Saint Jose's wishes. Suitable employees will be retained directly, and unsuitable ones will be fired. Then new employees will be recruited, and the business outlets will be expanded into branches.
St. Jose directly reorganized Barron's Bank and turned it into a company instead of a simple bank. The financial center led by Rosa was directly merged into Barron's Bank, adding 300 employees at once.
Rosa herself also serves as the first deputy general manager and director of the debt center. She is still responsible for some financial operations, but has carried out a comprehensive upgrade plan.
Some bank digital management experience has been introduced, in which the payment of wages has become the issue of instructions, and then the bank distributes them.
He specially found someone from the Radical Party to introduce a reliable person and hired a 66-year-old banker to Barron's Bank to serve as the general manager and president of Barron's Bank. His name was Sisolo Soregui. Yetta.
This person is actually a member of an old business and political family, but he is only a collateral branch. He has not inherited the family business and has left the family.
The Sorreguietta family is also an Italian family, but it is not currently deeply involved in the banking industry. It is mainly engaged in politics and trading farms. It owns some large trading companies and beef companies in Argentina. It is a typical Caudillo family. It's not a big family, it's a medium-sized family in Argentina.
San Jose carefully sorted out the bank's business lines and carried out restructuring.
San Jose used military-style training to train his bank employees, and at the same time gave him the most competitive wages in the Argentine banking industry. He was very generous and recruited and trained new employees, euphemistically calling them the "Wolf Team", and established Brazil. Lun Bank’s corporate culture.
"We at Barron's Bank need strong execution, creativity, and obedience. You can get everything Barron's Bank provides you, learning, innovation, benefit, and unity. In the words of wolf culture, learning and Innovation represents a keen sense of smell, profit represents an offensive spirit, and unity represents a group spirit of struggle.”
St. Jose directly applied some so-called corporate culture of later generations to firmly unite the company's employees.
"We must have a lofty pursuit, which is to become the most powerful private bank in Argentina. We must also have a realistic style and take one step at a time."
Sanjesé called this "Barron's Culture" and it was also the first bank in Argentina to have a corporate culture.
St. Jose also established an employee university within the bank, called the "Barron's Financial School", where you can get sufficient training. He also specially wrote a pamphlet called the "Barron's Basic Law".
At the same time, in order to improve the sense of belonging for employees, he directly spent money to buy a 14-story commercial building on Roma Street in Madero District, outside LA Street, and renamed it the Barron Financial Building to create a comfortable office environment.
A new headquarters was set up here directly, and a construction team was hired to renovate the interior and exterior.
Several offices are reserved on the top floor of the building for the exclusive use of Saint Jose. Currently, there are not many high-rise buildings in Argentina. Super-tall buildings are mostly from the United States. They began to appear in big cities in the United States around the 1930s, especially under Roosevelt's New Deal. Stack of high-rise buildings.
At present, there are few high-rise buildings in Argentina with more than 20 floors, and the Barron Financial Building is considered tall. The famous Barolo Palace is only 22 floors.
Barron's Bank established several branches in the cities where the San Jose factory was located: Maria City Branch, Cordoba Branch, La Plata City Branch, Rosario Branch, Oran City Branch, Potassium Triangle Branch, In the early stage, we will build a few branches first, and then prepare to establish a branch in each provincial capital. With the branch as the center, we will build a sales department.
We buy out provinces that we can't enter. Anyway, there are quite a lot of small local banks in Argentina.
St. Hesse invested a large amount of money, opened branches like milk tea shops in later generations, selected some outstanding employees to settle in, and combined it with market recruitment.
To open up new markets, development must be rapid.
The most important job of a bank is to have enough deposits so that it can withstand risks and make profits naturally.
Then the U.S. dollars from other banks were transferred here in batches, and the deposit amount directly changed from 570 million pesos to 5 billion pesos. Then a storage account was opened for each employee of the San Jose factory, and wages were paid through this account. Make bank disbursement.
In this way, almost tens of thousands of customers were added, and the funds became abundant, expanding several times in an instant.
The only thing left is to train employees to collect deposits and open accounts.
This is advertising bragging. Barron’s Bank has a long history.
A few simple slogans were immediately released, and long paragraphs of advertising copy were bombarded with a steady stream of information from several major newspapers, magazines, and radio stations of Xin'a Media.
They even made groundbreaking TV commercials and put them into TV shows.
"Protecting customers' property with care, a trustworthy bank by your side."
"Savings are an effective way to combat risks."
"Choose Barron's Bank, where we have been serving you for 63 years."
"The bank near you, the bank you can trust, Barron's has branches in major cities across the country."
St. Hesse is not idle either. He has mobilized his personal connections. The University of Buenos Aires, even the army, farmers in the future farms, and all places that can generate deposit accounts have started to open accounts and offer small gifts such as eggs when opening an account. , let them put their savings into this account.
Soon, the number of accounts of Barron Commercial Bank directly exceeded 200,000, becoming a medium-sized bank in Argentina, and its deposit business gradually increased to 5.6 billion pesos.
The other thing to do simultaneously is to apply for a foreign exchange processing license from the Central Bank of Argentina to engage in foreign exchange business.
By depositing international remittances in this bank, the amount of international remittances increased by another 8 million US dollars, including some other foreign exchange.
The third step to do is to acquire or establish insurance companies and financial management companies. This is Saint Jose’s own experience. Selling insurance, especially commercial insurance, is a way to significantly increase profits, and financial management can increase the control that banks can have. amount of funds.
Formed a Barron's Insurance Company.
Cooperate with Redwood Securities for investment and financial management, issue new bonds to the factories in Saint-Jesse, and expand their development scale.
…
On the 14th floor of the Lombard Financial Building, all the employees of Lombard Bank currently only fill the bottom five floors, and most of the other floors are vacant.
St. Jose was chatting with Andrew, Rosa and other important confidants.
"Andrew, what do you think of our bank development plan?"
Guerrero was still in the United States, and he appointed Guerrero as the permanent deputy director, ranking above the other two deputy directors.
"I think it's great. Now Barron's is big enough to fit in front of Argentina, like Banco Garcia?"
Banco Garcia is currently the largest private bank in Argentina.
“Now the deposit scale is similar, but other aspects are far apart.”
Rosa is capable and has experienced the experience of the financial center. She is good enough to hold the position of president of Barron's Bank, but this is the 1950s, not the 21st century.
So he couldn't introduce a woman to be the president. It wasn't that he couldn't, and it would be too popular, even though the title of vice president was already attracting enough attention.
That's why St. Jose recruited retired Sisolo, a mascot who wasn't much of a threat, offered a decent salary and could sometimes solve minor problems through Sissoul's connections.
At present, Argentina's largest Bank Garcia has five to six thousand employees, and it can be said that they are all over Argentina.
San Jose has conducted a large-scale recruitment for Barron's Bank. Currently, there are only more than 1,800 people, including people from the Rosa Financial Center. New employees need at least 2 weeks of training and integration.
"Even so, the development of Barron's Bank is extremely amazing. It can be said to be very crazy."
Unlike St. Jose's ambitious goals and pragmatic style in Barron's, Barron's Bank's expansion speed is extremely impressive. It often buys a floor and fills it with 10 employees, which is a sales department.
Guerrero is now well advanced and one of the few people with access to San Jose's vast empire of wealth.
Now it can almost be named the Cohen Consortium. It is still relatively low-key, and many of its companies and factories have no affiliation.
The formation of small competitive companies and factories also began to fully unleash their vitality and combat effectiveness.
"Yes, boss, we at Barron's Bank still need to continue to make rectifications."
Rosa said calmly, not surprised by the current results. After all, most of the deposits come from funds from major factories and accounts.
"Yes, we are still far from Garcia Bank. We have to continue to develop our customers."
For San Jose, the current development is indeed not good. Even a deposit of 10 billion pesos is only equivalent to a little more than 100 million US dollars. In front of the huge American conglomerate, it is just a younger brother. It can't even get into the top 20. It doesn't matter. Something to be proud of.
One billion US dollars is enough to fully share the dividends of Argentina's development. Only if Argentina can reach one-fifth of the strength of the United States can it be called a world power. This is not a simple matter.
"We still need more efforts from everyone."
The group of people chatted about other things again before leaving the office. Rosa did not leave. The two of them stood on the top floor and looked at Putrajaya in the distance.
Buenos Aires is beautiful at sunset.
…
St. Jose began preparing for his senior year. After attending classes for more than a month, St. Jose skipped a grade and became Powell's senior. He also published several excellent legal papers and published them in academic newspapers.
And after passing the school's basic review, you can wait until the second half of the year to graduate directly with the classmates of the 49th class. Even if the students of the 49th class graduate normally, there are not many students, less than half.
Recently, he has been attending classes diligently. After all, he still has to walk some basic lessons. With his excellent memory, he often goes to the Putrajaya Court for internships and audits. He is protected by the bosses of the Radical Party, and his internships are basically A+. And San Jose is older than many.
He is proficient in various legal provisions and can find out specific regulations as quickly as possible. The judges also think that this guy is good and he is very confident in dealing with others.
Saint Jose has almost become a legend at the University of Buddhism. It is very difficult to graduate from the law department normally, and the New Youth League has never stopped promoting Saint Jose as its president.
The New Youth League has become one of the most influential university societies in Argentina. It has spread a lot of influence through football cup competitions, student newspapers, various branches, etc.
This also gave Saint Jose a lot of favorability, and Saint Jose replaced the older group of students and became a popular figure in the world, not even comparable to several of his former seniors.
…
San Jose intends to form a staff team that is independent of the Falcon Bureau.
The Radical Party has given him a promise to help him seek a city councilor position in an important city in the province of Buenos Aires, most likely the provincial capital La Plata. After all, there is a steel plant there and it has a foundation.
There may also be Port Blanca, one of the largest port cities in Argentina. Its industrial development is not satisfactory and it exports wheat, beef and mutton.
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