Women's leadership evolution in Latin American banking and boards

Women in Latin America and the Caribbean have a long history of breaking barriers in the financial sector. Early pioneers include Amina L. Ferré, who became the first female manager at Banco Popular de Puerto Rico in the 1930s, and Patricia Robinson, who served in high-level research leadership at the Central Bank of Trinidad and Tobago in 1968.

In Panama, women have seen significant growth in the labor market, with 31% holding supervisory, technical, or managerial positions compared to 19% of men. This is supported by the fact that two out of three university graduates in Panama are women. However, a gap remains in corporate governance. A study by the Asociación de Directoras de Panamá (ADP) shows that by the end of 2025, 47.14% of regulated companies met the legal requirement of having at least 30% female representation on their boards. While the overall average of women on boards rose from 24% to 25.57%, many companies still fall short of legislative goals.

Female leadership is most concentrated in service sectors such as banking, insurance, and tourism, while sectors like construction, logistics, and industry show lower participation rates.