Managing growth

In 1985, Multiplic was a fast-growing financial group. It comprised an investment bank, a consumer finance company, a financial and sales promotion company, a leasing company, a securities broker, a securities distributor, an insurance company, as well as some non-financial companies. In many of the companies Multiplic and Lloyds Bank had a 50-50 joint venture.

In 1985, Luiz Kaufmann became the CEO of the group holding - Multiplic S.A. - with the mission of transforming a number of financial companies that operated independently in a multiple bank operating in an integrated manner and of preparing the group for future growth. In addition, Luiz Kaufmann was Vice-President of the Board of Directors of Banco Multiplic (a joint venture with Lloyds Bank) and was responsible for supervising all non-financial companies, associations and joint ventures.

During Luiz Kafumann's management, a commercial bank was created and the group initiated operations as an integrated multiple bank. It was the first Brazilian bank to operate in this model. Growth strategies were defined, the future of the joint venture with Lloyds Bank was negotiated and the mining and reforesting operations were sold.

Subsequently, Lloyds Bank acquired Multiplic's share in the financial companies.