Citibank reaffirmed its commitment to Mexico, a country where it is currently in the process of selling its retail banking division, Banamex. This action by the U.S. bank is significant, highlighted by the visit of global director Jane Fraser to the virtual president-elect of the country, Claudia Sheinbaum.
On Wednesday afternoon, Jane Fraser, CEO of Citi, accompanied by Ernesto Torres Cantú, Director of Citi International, and Manuel Romo, General Director of Grupo Financiero Citibanamex, met with the winner of the presidential elections held on Sunday, June 2.
“Jane Fraser mentioned that Citi has had a presence in Mexico for over 100 years and that the country will continue to be very important for our operations. She expressed her enthusiasm for the opportunities ahead and the significant role Citi can play in supporting the growth plans, hoping to return to Mexico soon,” said Citibanamex in a statement.
Additionally, during the meeting, Fraser and Sheinbaum exchanged ideas about the opportunities the country offers in the coming years and Citi’s support for the sustainable and shared prosperity economic projects proposed by the president-elect, which both leaders share.
Fraser reaffirmed that during the second half of 2024, there will be two solid, specialized financial institutions operating, each in its business segment: Banamex and Citi Mexico.
The CEO of Citi congratulated the virtual president on her historic victory on June 2 and celebrated that it occurred in a democratic environment, expressing her pleasure that Mexico will have a female president for the first time.
“This was a notable event, bringing together the first woman elected to be president of Mexico and the first woman chosen to lead one of the most relevant and iconic banks on Wall Street,” said Citibanamex. The CEO of Citi also met with Rogelio Ramírez de la O, the Secretary of Finance and Public Credit, congratulating him on his reappointment in the next government and wishing him luck.
For Beatriz Zúñiga