In 60 Yrs, Black Man Becomes Brazil’s Central Bank Director , Breaks Record

Ailton Aquino has made history by becoming the first black man to join the board of directors of the Central Bank of Brazil. Following his approval by the Senate, Ailton de Aquino Santos officially assumed the position today as a member of the Supervision Board.

With a dedicated career spanning 25 years, Ailton Aquino began his journey at the Central Bank in January 1998 and has held various critical roles within the organization, including chief auditor, head of accounting, budget, and financial execution.

Ailton boasts an impressive academic background, holding degrees in accounting from the State University of Bahia and in law (LLB) from UDF (University Center of the Federal District). He also possesses a postgraduate degree in accounting and specializes in international accounting, business, and economic engineering.

Born in Jequié, located in the southwestern region of Bahia, Ailton’s roots are deeply connected to his home state. He resided there until 1997 before commencing his professional journey.

During his confirmation hearing, Ailton Aquino expressed his belief that the approval of the fiscal framework would contribute to reducing interest rates, particularly emphasizing the impact on the Selic rate. He emphasized the significant role it could play in driving down interest rates in the future. 

Ailton, along with economist Gabriel Galípolo, who were both nominated by the Lula government, are seen as capable of effecting change at the Central Bank and potentially reducing the Selic rate in the upcoming meeting of the Monetary Policy Committee (COPOM).

Ailton takes over the position from Paulo Sérgio Neves de Souza, who was originally nominated during Jair Bolsonaro’s administration. The positions on the board of the Central Bank have a standard four-year term, with the possibility of reappointment for an additional period.

On Tuesday, July 4th, the Senate approved the appointments of two government nominees to the board of the Central Bank. Ailton de Aquino Santos secured the position of director of supervision for a four-year term.

This historic appointment signifies a significant milestone as, throughout its nearly 60-year history, the Central Bank had not previously had any black Brazilians serving on its board of directors.

This appointment also marks the first selection made by President Lula for the institution, signifying a new era in the leadership of the Central Bank.

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