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Women behind in leadership of Brazilian financial firms

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Women presence in the high ranks of financial institutions has been increasing in the world, but in Brazil the growth is still timid, a new report by consultancy Oliver Wyman shows. In a survey of 468 publicly traded companies in 37 countries, the share of women on executive boards of financial-service firms grew to 20% in 2019 from 16% in 2016. But Brazil appears near the bottom, in the 31st position, with women occupying 10% of the posts. At the top are Israel (38%), Australia (34%) and Sweden (33%).

"There still is a long way to go in the country," says Ana Carla Abrão, head of Oliver Wyman's office in Brazil. "Cultural aspects, like the longer time dedicated to domestic tasks or care, differences in average income and the choice in smaller number than men for exact sciences reinforce this inequality of gender in the country's financial market," she says.

In terms of policies to encourage women leadership, she says large banks in the country have advanced in recent years and have practices in line with those of countries with high presence of women in command. "We see policies designed for women, of salary equity, mentorship groups and work-from-home, but not all actions are seen in all companies," Ms. Abrão says.

The report lists these practices, collected in interviews with 15 CEOs and officers of Bradesco, Santander, Itaú Unibanco, B3, PagSeguro, C6...

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