Mexican Banking Association appoints first woman director

Mexico has its first-ever female president, and the Mexican Banking Association (ABM) made history by appointing a woman as ABM director for the first time in history.

With over 25 years of experience in banking, telecommunications, health and energy, Regina García Cuéllar replaces Juan Carlos Jiménez Rojas, who left the position in May after 19 years as director.

García, who holds a degree in economics from the Autonomous Institute of Technology of Mexico (ITAM) and a PhD in economics from Harvard University, has held key positions in various private and government entities, including IZZI Telecom, Citibanamex, Pemex, the Mexican social security Institute ( IMSS) and the Ministry of Finance and Public Credit (SHCP).

She is co-chair 50/50 women on Mexican boardsa global non-profit organization founded in 2010 to increase gender balance and diversity on corporate boards. She was also a board member of many companies.

“We are confident that under her leadership, ABM will continue to successfully address industry challenges and distinguish itself as one of the most important umbrella organizations in the country,” – ABM said while wishing the new director general “great success” in her new role.

ABM was founded in 1928 to represent the collective interests of the sector. Currently, it has 48 affiliated banks. Since its establishment, ABM has served as the umbrella organization for financial institutions in the country, including Banorte, Bansí, JP Morgan, Monex, Banco Azteca, Citibanamex and Santander.

Mexican women in the labor market

Participation of Mexican women in the workforce is growing. With the exception of a decline during the Covid-19 pandemic, women’s labor force participation has gradually increased since 2005, when 41% of Mexican women had paid work. According to World Bank dataAt the end of 2023, 46.5% of all working-age Mexican women were working in the formal or informal sectors in Mexico.

However, this number still lags behind the number of men in the labor market, whose share was over 30 points higher at 77.5%.

A study by the Milken Institute found that these numbers place Mexico as the country with the lowest rate of women’s labor force participation among Latin America’s five largest economies: Brazil, Mexico, Argentina, Colombia and Chile.

From reports from Aristegui notifications