One of Itaú Unibanco’s largest shareholders, sociologist Maria Alice Setubal, known as Neca Setubal, is president of the administrative council of Cenpec (Center for Studies and Research in Education, Culture and Community Action), an institution dedicated to improving basic education. She is also president of the advisory board of Fundação Tide Setubal, an educational NGO operating on the east side of São Paulo. In 2022, Neca was part of President Luiz Inácio Lula da Silva’s government transition team after the elections.