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Rita Serrano

When she took over as CEO of Caixa Econômica Federal in January of this year, Rita Serrano declared that she wanted the bank—the largest 100% government-owned financial institution in Latin America—to become a leading force in Brazil’s sustainable development. This came as no surprise to those who had followed Serrano’s more than 30-year ascent at the company. On joining the board of directors in 2017, she made sustainability her focus along with the need for improved working conditions for employees. Bank revenue increased by 55% to $37 billion in the 12 months before Serrano’s appointment, and growth steadily continued during her first six months at the helm. (At the end of this year’s second quarter, Caixa’s net income rose 40.9% year on year to $527 million [BR 2.6 billion].) Political tensions in the country, however, mean that questions loom over Serrano’s future at the bank. In recent months, a bloc of center-right parties lobbied Brazil’s left-wing president, Luiz Inácio Lula da Silva, for control of Caixa, as well as certain cabinet ministries, in exchange for support for his legislative agenda. In response, Lula reshuffled his cabinet. He has so far stood by Serrano.

Ton MolilnaBloomberg/Getty Images
  • Title
    CEO
  • Affiliation
    Caixa Econômica Federal
  • Country/Territory
    Brazil
When she took over as CEO of Caixa Econômica Federal in January of this year, Rita Serrano declared that she wanted the bank—the largest 100% government-owned financial institution in Latin America—to become a leading force in Brazil’s sustainable development. This came as no surprise to those who had followed Serrano’s more than 30-year ascent at the company. On joining the board of directors in 2017, she made sustainability her focus along with the need for improved working conditions for employees. Bank revenue increased by 55% to $37 billion in the 12 months before Serrano’s appointment, and growth steadily continued during her first six months at the helm. (At the end of this year’s second quarter, Caixa’s net income rose 40.9% year on year to $527 million [BR 2.6 billion].) Political tensions in the country, however, mean that questions loom over Serrano’s future at the bank. In recent months, a bloc of center-right parties lobbied Brazil’s left-wing president, Luiz Inácio Lula da Silva, for control of Caixa, as well as certain cabinet ministries, in exchange for support for his legislative agenda. In response, Lula reshuffled his cabinet. He has so far stood by Serrano.