|
The
sale, which is expected to be completed next year after Mexican
regulators sign off, comes after Citigroup announced in January
2022 that it was moving away from retail banking in Latin
America.
Mexico’s then-President Andrés Manuel López Obrador said at the
time “we would like this bank to be Mexicanized,” contending
that foreign bankers often take profits abroad rather than
re-invest them in Mexico.
Chico Pardo said Thursday that he only got fully into
negotiations with the U.S. financial behemoth six months ago.
“I believe that the foreign investment which is so necessary for
our country must complement domestic investment,” he said.
Citigroup originally acquired Banamex, one of Mexico’s largest
banks, in 2001. Under Citigroup, Banamex had grown to Mexico’s
fourth-largest banking company, with 1,300 branches and 13
million customers.
Chico Pardo is currently chairman of the board of ASUR, which
operates nine airports in southeast Mexico, the main airport in
San Juan, Puerto Rico, and six airports in Colombia.
He is also president and CEO of Promecap, a private equity firm.
He previously founded and ran a brokerage firm.
The plan is eventually to go public with the remainder of
Banamex, but Chico Pardo would remain as the principal
shareholder.
All contents © copyright 2025 Associated Press. All rights reserved
|
|
