Finance Sector Conference in the Americas: Tackling resistance, promoting transformation and solidarity

UNI America’s Finance Conference kicked off in La Falda, Córdoba, Argentina, highlighting the urgent challenges and opportunities facing the sector in the Americas amidst growing threats from neoliberal policies, financial transformation and digital disruption.

In his opening address, Marcio Monzane, Regional Secretary of UNI Americas, stressed the importance of convening in Argentina, a country grappling with political and economic challenges. “This conference reflects the times we live in – a moment of resistance and achievement for the labour movement. We are here to stand in solidarity with Argentinian workers in the face of challenges like the rise of Milei,” Monzane stated. He emphasized the need for unions to adapt to financial sector changes, including fintech growth and regulatory gaps. “We must organize and support financial sector workers, many of whom are unaware they are part of a strong, representative labour network.”

Juvandia Moreira Leite, the newly elected President of UNI Americas Finance, highlighted the broader implications of right-wing politics in the region. “We face a rise in far-right politics, threatening democracy and labour rights. Argentina’s struggles resonate with us in Brazil, where we endured similar challenges under Bolsonaro. Solidarity and unity are vital as we navigate these changes and ensure economic growth rooted in fairness,” she said.

Addressing gender inequality in the financial sector, Theresa Morthimer, President of UNI Americas Equality, called for action to ensure women’s rights and opportunities. “Women make up over 50 per cent of this sector. We must push for the ratification of ILO Recommendation 206 across the Americas to guarantee equality,” she urged.

Christy Hoffman, General Secretary UNI Global Union pointed out the importance of the sector’s priorities in defining an agenda to protect democratic institutions for all: “Finance unions are at the forefront on many of the issues that will define our future. The protection of democracy, individual and collective rights to continue to work and not be displaced by technology, the indispensable push for collective bargaining strategies and regulation so we are all protected.”

The conference also tackled the profound impact of digital transformation. Angelo Di Cristo, Head of UNI Global Union Finance sector, underscored the urgency of addressing artificial intelligence and fintech. “AI and financial digitalization present both risks and opportunities. We must protect workers displaced by automation and advocate for new rights in this revolutionary era. Actionable solutions demand collective engagement,” he said.

Guillermo Maffeo, Regional Director of UNI Americas Finance, elaborated on the union’s proactive stance. “We’ve established an AI Observatory to gather global legislation and agreements, aiming to craft robust frameworks for digitalization. Unions must lead these discussions to ensure adaptation benefits workers.”

Sergio Palazzo, the outgoing President of UNI Americas Finance, emphasized the critical role of unions in countering right-wing policies and strengthening democracy. “Democracy often struggles to meet the urgency of people’s needs, leading to discontent. In Argentina, we face one of the most extreme right-wing movements globally. To balance this, we need collective action. Collective bargaining is key – it’s where unions challenge capital to ensure fair income distribution. Unity, organization and solidarity are essential,” he stated.

The message from finance unions from all over the Americas is clear: collaboration and collective action remain pivotal in shaping a fairer financial future for all workers in the Americas.