Bloomberg Línea — What do Brazil’s Anitta, Mexico’s Diana Flores, Colombia’s Jessica Siqueira and Argentina’s Patricia Pomes have in common? According to Bloomberg Línea’s editorial board, they are among the women who are changing the rules of the game, and which is why they are included in the second edition of Bloomberg Línea’s 50 Women of Impact in Latin America.
50 Women of Impact in Latin America
The 2023 listing, says Bloomberg Línea’s editorial board, was compiled based on nominations from more than 60 editors and content producers across the region, and acknowledges “the efforts of dozens of women in arenas as varied as finance, startups, entertainment and sports.”
The list, published in Spanish, Portuguese and English, includes women who not only excel in their fields, but who have also gone beyond those, generating impact at a social level; that is, creating jobs, fostering innovation and, above all, demonstrating that female leadership is gained more ground year after year.
The 2023 edition of the 50 Women of Impact in Latin America features personalities such as Mexican actress Eiza González, Colombian artists Shakira and Karol G, along with stars in finance, business and technology such as Aimée Sentmat (Banitsmo) Flavia Almeida (Peninsula Partners), Lidian Jones (Slack) and Samantha Ricciardi (Santander), among others.
Bloomberg Línea’s editorial board stated that the “list is not a ranking, but rather a platform acknowledging the women who are changing the rules of the game in Latin America in business, finance, entertainment and entrepreneurship”.
Three aspects were taken into consideration for the selection of those women included: leadership, business impact and social influence.
A gray area
In 2023, many companies around the world, and specifically in Latin America, are finding it difficult to understand that the presence of more women in leadership areas translates into better results on the balance sheet.
According to S&P Global, women make up only a fraction of executive positions in Latin American banks. The agency notes that gender balance at the highest levels of the region’s financial institutions “continues to tilt heavily in favor of men”.
S&P notes that, on average, women represent 11.4% of executive positions and seats on the boards of directors of financial institutions in Latin America. In contrast, the figure in Europe is 21.27%, while in Asia and the Middle East it is 13.13% and 14.21%, respectively.
The low presence of women in leadership positions in the region’s banks, according to S&P, and which cites the International Finance Corporation, continues despite evidence that their inclusion brings benefits such as better financial performance, as well as greater shareholder value and lower risks of fraud or corruption.
There are signs of progress in the region, however, such as the fact that 46 Latin American companies appeared on the latest Bloomberg Gender-Equality Index 2023 (GEI), the highest number to date.
While participation in the index is voluntary, the companies that took part (all of which are listed on the stock market) must provide internal information on leadership and talent attraction, gender equality and pay parity, inclusive culture, sexual harassment policies, and external image.
Bloomberg’s GEI report highlights that global results show that women-led companies have greater gender representation at all levels. GEI member companies with more than 30% female board representation have, on average, 27% female executives within the corporation, compared to 20% female executives at companies with less than 30% female board members.