Leaders League. How can women overco-
me obstacles in their financial careers?
Luciane Ribeiro. To overcome challenges,
women need to be doubly determined and
be prepared to be tested and demanded
twice as hard in their professional deliveries.
Basically, it is essential to have self-confi-
dence and believe in your potential.Leaders League. Do you think the finan-
cial market, a predominantly male envi-
ronment, has become more open to wo-
men over the years?
L. R. It is a fact that oppor-
tunities for women have
been growing during these
last years, more so in other
markets than in finance. The
problem is that we need to
improve opportunities for
women at the “C-Level” and
Boardroom level of compa-
nies. Gender diversity poli-
cies have contributed to the
recognition of women’s professional com-
petence, but unfortunately, we do not see
the same incentives and policies in the fi-
nancial sector. Nonetheless, we can certain-
ly expect this difference to decrease. Never
before have we seen so many suitable wo-
men set to assume leadership. Some asset
managers and consultants have been pu-
blishing reports and studies related to di-
versity in this environment, making public
the distribution of gender per work level,
which I believe is a first step. Some invest-
ment companies, for example, are already
including a minimum ratio of women in the
list of candidates for each new position at
all company levels.Leaders League. What are the external va-
riables that affect Latin America?
L. R. Latin America’s financial markets have
been affected by external variables, like US
and European interest rates and their own
political and economic crises. Although
each country has its own peculiarities,
there has been a common story for mostof the Latin economies in recent years. The
structural economic deceleration of China
resulted in the end of the commodity su-
per cycle, undermining the most important
growth driver for the region. Moreover,
Latin American countries have not seized
the opportunity to implement structural
reforms that could boost productivity and
growth. As a consequence, they have be-
come more fragile at a time when global
demand for exports is subdued. Further-
more, markets and investors are averse to
uncertainty and were negatively affected by
the recent political develop-
ments in Brazil, for instance.Leaders League. How has
the political environment
in the region affected the
financial market and the
prospects for investors?
L. R. The main consequence
of political turbulence is a
sharp and widespread drop
in the confidence of economic agents,
which entails a strong contraction in fixed
investments and household consumption.
Financial markets usually react accordingly,
and people begin experiencing tougher pe-
riods for equities, higher interest rates and
weaker currencies. I believe that in the me-
dium term the outlook is good for inves-
tors, with the implementation of fiscal ad-
justment measures, but this optimistic view
will only be complete if it includes reforms
in both the social security and political sys-
tems, which are important issues for the
full recovery of the country and the wider
region. Structural reforms are key. Our eco-
nomies need to implement them to tackle
fiscal imbalances, foster infrastructure in-
vestments, develop capital markets and
pursue productivity gains. We have already
seen positive developments in Argentina
and Brazil, which are going through impor-
tant political shifts, moving towards more
market friendly administrations. Although
there is still a lot to do, the region presents
opportunities for patient investors.Luciane Ribeiro is CEO at Santander Brasil Asset Management, a global company
specialized in managing portfolios and investment funds for corporate and private banking.
She is optimistic about the development of women in the financial sector and shares her
views on the economic prospects for Brazil and Latin America.“Never before have we seen so many suitable
women set to assume leadership”
LUCIANE RIBEIRO
CEO, SANTANDER BRASIL
ASSET MANAGEMENT
EXPRESS BIO
(^) Luciane Ribeiro has a BA in Economics
from Fundação Armando Álvares
Penteado (FAAP) in São Paulo, Brazil.
(^) Prior to Santander, she worked as
Executive Director at Banco Safra for
21 years and as CEO at ABN AMRO’s
Asset Management for Latin America
from 2006 to 2009.
(^) Was chosen to assume the CEO
position at Santander Brasil Asset
Management in 2008, being responsible
for the integration of asset management
units of Santander which had been
acquired by Banco Real.
“IN THE MEDIUM
TERM THE OUTLOOK
IS GOOD FOR
INVESTORS, WITH THE
IMPLEMENTATION OF
FISCAL ADJUSTMENT
MEASURES”
BANK INFORMATION
(^) Santander Asset Management is
present in 12 countries and has over
700 employees worldwide - 263
in Latin America alone.
(^) The company’s assets add up to
$182 billion and vary across all types
of investments vehicles, like investment
funds and pension plans.