Citigroup CEO Jane Fraser met with Mexican President Claudia Sheinbaum at the National Palace, days after the acquisition of Banamex and over three years after the bank's separation was announced. In a message shared with the media, the executive thanked the president for her support of the financial group and highlighted the importance of the Mexican market for the business. "We remain deeply committed to supporting the long-term economic growth and prosperity of Mexico, serving companies and institutions across the country," she said. "We look forward to continuing to work with our clients to strengthen investment, promote innovation, and contribute to the country's economic resilience," Fraser added. In turn, the president also announced the meeting on her social media, where she simply stated that they discussed "the good economic prospects for our country". The meeting comes almost a week after the sale of Banamex to Fernando Chico Pardo, an entrepreneur who acquired a 25% stake in the bank after regulatory processes, and subsequently became chairman of the board of the financial institution. Following this transaction, Fraser confirmed her interest in further divesting from Banamex, leaving the decision to go public on the Mexican stock market via an IPO for next year still in place. Meanwhile, Manuel Romo, the bank's director, stated that among his priorities leading Banamex are to restore corporate banking and seek a brokerage license in the medium term.
