Mexican Banking Association names first woman as director

October 2, 2024

Woman with long wavy light brown hair staring into the camera, posing in front of a wall that has the letters ABM on it. — The Mexican Banking Association (ABM) this week chose Regina García Cuéllar as director of the association, which has existed in Mexico since 1928. (ABM)

Mexico has its first-ever woman president — and the Mexican Banking Association (ABM), has made history in the same direction, naming a woman as director of the ABM for the first time in history.

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

Older gentleman in a dark suit, white shirt and thick black glasses standing with his arms folded in front of him next to the ABM flag. — García’s predecessor, former ABM director Juan Carlos Jiménez Rojas. (ABM)

García, who holds a degree in Economics from the Autonomous Technological Institute of Mexico (ITAM) and a PhD in Economics from Harvard University, has held key roles in various private and government entities, among them IZZI Telecom, Citibanamex, Pemex, the Mexican Social Security Institute (IMSS) and the Ministry of Finance and Public Credit (SHCP).

She is copresident of 50/50 Women on Boards Mexico, a global nonprofit founded in 2010 to accelerate gender balance and diversity on corporate boards. She’s also been a board member at numerous companies.

“We are confident that, under her leadership, the ABM will continue to successfully face the challenges of the industry and stand out as one of the most relevant umbrella organizations in the country,” the ABM said while wishing the new general director “much success” in her new role.

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

Mexican women in the workforce

Participation of Mexican women in the workforce is on the rise. Excluding a dip during the COVID-19 pandemic, women’s workforce participation has increased gradually since 2005, when 41% of Mexican women had paid jobs. According to World Bank Data, 46.5% of all working-age Mexican women worked in the formal or informal sectors in Mexico at the end of 2023.

However, that figure still lags behind men’s workforce presence, whose participation was more than 30 points higher, at 77.5%.

A study by the Milken Institute noted that these figures put Mexico at the lowest female workforce participation of Latin America’s five biggest economies: Brazil, Mexico, Argentina, Colombia and Chile.

With reports from Aristegui Noticias