Five years into her career, Isadora Cherman has become the first woman to top Brazil's Sales ranking.
It's about doing the little things consistently over time. In a market where competitors often offer similar products and services, differentiation comes from truly understanding your clients to filter the overwhelming amount of information available and focus on what genuinely matters.
She's candid about where she started. "When I started my career five years ago, I looked around at my peers, most of whom were men, and wondered whether I would be able to build the same level of connection and proximity with clients, who were also predominantly men." Looking back, she credits "a tremendous amount of work and a genuine obsession with understanding what matters most to each client: their investment themes, the stocks they are focused on, and the challenges they are facing." Filtering the constant stream of events, news, data and research down to what's relevant for each client is, in her words, "a real life memory game."
On what the market is underweighting right now, Cherman points beyond any single stock to a regional pattern. Capital has chased emerging markets hard this year, with oil & gas and petrochemical names among the early standouts, before flows rotated toward South Korea and Taiwan for their place in the AI value chain. "Latin America, however, has not benefited from the same dynamic and, as a result, has lost some of the spotlight, with very few listed companies offering direct exposure to the AI theme," she says — a dynamic she believes has "contributed to capital outflows from the region, creating attractive opportunities in high-quality businesses trading at compelling valuations."
She sees Brazil as particularly well positioned on infrastructure: "Brazil is well positioned to become a competitive hub for data center infrastructure, supported by its abundance of renewable energy, ample water resources, and relatively low energy costs." Even without many direct AI plays, she argues the region "does provide exposure to businesses that could benefit from this trend through second- and third-order effects, right now at a significant valuation discount."
That same instinct for reading the environment shows up in how she describes the shift in her typical client. Higher interest rates drove real outflows from local equity funds, forcing sell-offs in less liquid names and making "even marginal news flow" a meaningful driver of stock prices. "In this environment, investors place a greater value on timely information, industry cross-checks, and differentiated insights that can provide an edge," she says, noting portfolios have grown "more concentrated in defensive sectors such as utilities, infrastructure, and banks, while remaining selective in domestic growth stories, particularly those supported by company-specific or policy-driven catalysts."
Asked what separates a great salesperson from a good one, she doesn't point to access or speed. "It's about doing the little things consistently over time. In a market where competitors often offer similar products and services, differentiation comes from truly understanding your clients to filter the overwhelming amount of information available and focus on what genuinely matters. Above all, success in this business is built on trust, discretion, and consistency." She traces that instinct back to her environment: "Working in an organization that places such a strong emphasis on integrity and confidentiality has taught me that credibility is earned through every interaction. Over time, that credibility becomes our greatest differentiator."
The recognition itself, decided by clients, carries particular weight for her. "Being recognized in a survey of this relevance, where the winners are decided by the clients themselves, is truly rewarding," she says, crediting "the relationships I have built and the value I have been able to deliver." She also points to what she calls "the unparalleled network of Itaú, the largest bank in Latin America, and the expertise of talented professionals across the organization," which together, she says, "create an ecosystem where clients feel confident in the insights, access, and content we provide." On reaching the top of the ranking, she says: "I am incredibly proud of this achievement and hope it serves as a reminder that our industry continues to evolve. I am honored to be the first woman to stand on top of this podium, and I hope I am far from the last."
Her advice to her younger self circles back to that same theme. "I would tell my younger self not to be intimidated by the fact that this is a predominantly male industry. More and more women are building successful careers in the sector," she says, naming colleagues Monique Greco Natal and Maria Clara Infantozzi as role models she's been fortunate to work alongside. "I would also remind myself to stay curious and never be afraid to ask questions... This is a small industry filled with highly talented professionals, and together we deliver better insights to clients." Her closing line sums up the throughline of her whole career: "I've learned that the best results come from teamwork."
