The Board of Directors is responsible for the strategic direction of ABVCAP. It is composed of twelve members, ABVCAP associates, for a term of 3 (three) years.
At least six members are representatives of the General Partners category, and at most, six can be representatives of the other associative categories of ABVCAP.
Nine members are elected by the General Assembly and three members are appointed by the majority of the members of the Board of Directors, with the support of the Nomination Committee.
See here the composition of this Board with a term from 2023 to 2026.

The Advisory Board, when established by the Deliberative Council, is the non-permanent body for consulting and advising ABVCAP, mainly dedicated to supporting and advising on its strategic direction.

The Advisory Board may be composed of up to 12 (twelve) invited external members, who are individuals with notable capacity in the capital markets, with prominence and unblemished reputation, appointed by the Deliberative Council, for a term of 3 (three) years.

In addition to the twelve invited external members, the former Presidents of the Deliberative Council are also lifetime members of the Advisory Board, provided that they are not members of other statutory governance bodies of ABVCAP.

The members of the Advisory Board may propose to the Deliberative Council the adoption of measures of interest to ABVCAP, contributing with suggestions for projects, programs, activities and methodologies used to achieve ABVCAP's corporate purpose; to give opinions on matters submitted to it by the Advisory Board, advising it in defining the guidelines for action and strategic planning of ABVCAP.

The opinions and proposals issued by the Advisory Board do not bind any decision by the Advisory Board or the General Assembly.