Parr: Lemann built Banco Garantia by hiring candidates with 'PSD' traits
Sam Parr · Andrew Wilkinson On The Secretive Billionaire Who Acquired Burger King | My First Million #185 · May 25, 2021 · at 6:53
Sam Parr explains the hiring philosophy and incentive structures established by Jorge Paulo Lemann at Brazilian investment bank Banco Garantia.
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“That's what he looked for, was people who had PSD, and he would hire these folks, and it, in, previously, at different companies, you would automatically get a bonus if you were one of the partner, but they created some type of system that was, ah, they tried to make it as, based off of merits as much as possible, so a lot of different people could get bonuses. And also, the bonuses, you could choose, do you want more stock, or do you want more Cash. And it was a great way to incentivize people. And it kind of created this iconic culture that, that seems what they're famous for.”
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