Latin America

HBS Professor Ryan Raffaelli visited Mexico City in August 2025, as part of his research for the ongoing case about the digital transformation of one of Mexico’s top retail players. He conducted interviews and visited the company’s department stores. He also held an event with HBS alumni, organized by the Mexico HBS Club, where he shared the highlights of his recent research. In the session “Leadership and Reinvention in Turbulent Times,” Prof. Raffaelli shared key insights from over a decade of research on organizational reinvention and how leaders respond to disruptive technological change. He explored how an organization’s history of success can either support or hinder its ability to grow and adapt. Prof. Raffaelli introduced common reinvention traps—related to identity, organizational structure, and collaboration norms—that often block transformation efforts. Drawing on case studies including Moleskine, Corning, Amazon, independent bookstores, and the Swiss watch industry, he offered practical strategies to help leaders navigate these challenges and foster innovation within their organizations.

HBS Professor Sophus Reinert went to several locations in Brazil in July 2025. He was first in São Paulo, Promissão (São Paulo state), and Uberlândia (Minas Gerais), interviewing company executives and visiting manufacturing plants and a slaughterhouse for his ongoing case about the merger of two protein companies. Then, as part of his research for another case in progress, he proceeded to the Amazonia region, where he visited the site of an abandoned city where a major American automaker had established itself to ensure its long-term supply of rubber. While in Brazil, Prof. Reinert led a dynamic discussion with a highly engaged group of HBS alumni. The evening brought together a diverse group of leaders for a thought-provoking conversation that explored the major challenges Brazil has faced over the past year, including shifts in the economic and political landscape, developments in technology and agribusiness, and key legal and social issues shaping the country’s future. The event served as a powerful reminder of the value of looking to the past to better understand the present—and to make more informed, conscious decisions for the future. It was an inspiring exchange with an exceptional group of alumni committed to thoughtful leadership in Brazil.

The Creating Emerging Markets project offers a distinctive and invaluable research and teaching resource focused on business leadership across Africa, Asia, Latin America, and the Middle East over the past several decades. At the heart of the project are more than 180 in-depth video interviews conducted by Harvard Business School faculty with influential leaders in business and social enterprise—individuals who have shaped their industries and societies through innovation, resilience, and strategic vision. Read the interviews with Felipe Antonio Custer, CEO of Corporacion Custer, and Laura Catena, Managing Director of Bodega Catena Zapata, Founder of Catena Institute of Wine and Owner of Luca Wines. Read all of the Latin America Interviews here.

Marciano Testa (OPM 61 (2024)), one of Brazil’s most prominent entrepreneurs in the financial sector and founder of Agibank, joined members of the HBS Club of Brazil and the Harvard Brazil Club for an inspiring and wide-ranging conversation in São Paulo. During the event, Testa shared the story behind Agibank’s growth—highlighting the company’s innovative approach to expanding access to financial services—and discussed his continued commitment to driving impact through strategic investments. He also introduced attendees to Instituto Caldeira, a transformative initiative focused on fostering innovation and developing tech talent in southern Brazil. More than just a recounting of achievements, the session was a true masterclass in entrepreneurship. Testa emphasized the critical role of organizational culture, the value of investing in people, and the importance of staying alert to emerging opportunities. His insights offered both practical lessons and inspiration for alumni and students alike, underscoring how business leadership can drive both growth and social transformation.

In May, Professor Joe Fuller (in the Region for FIELD Global Capstone) met with a select group of HBS and Harvard alumni from Argentina, for an insightful discussion on How AI is Reshaping Work. Drawing from his research at the Managing the Future of Work initiative, Professor Fuller explored the profound ways artificial intelligence is transforming labor markets, job design, and the skills required for the workforce of the future. He shared global trends, emerging challenges, and opportunities for business leaders to adapt and thrive in this rapidly evolving landscape.