In addition to Banamex, these are the other businesses of businessman Fernando Chico Pardo

Regulators authorize Fernando Chico Pardo to buy 25% of Banamex

This Monday, December 15, Citi completed the sale of 25% of Banamex to businessman Fernando Chico Pardo, fulfilling the announcement made last September. With immediate effect, Chico Pardo assumed the position of President of the Bank’s Board of Directors.

In a statement, Citi highlighted that Chico Pardo’s investment “shows confidence in the future of Banamex and its growth strategy in all lines of business.”

The businessman has indicated that his goal is to relaunch the bank with a focus on digitalization, while Manuel Romo will continue as CEO, like the rest of the management team. Citi’s divestment plan remains on schedule.

What are Fernando Chico Pardo’s businesses?

According to the 2024 ranking of the 100 most important businessmen in Mexico prepared by ExpansionChico Pardo is president of two important companies and is part of several organizations and business groups.

Among his positions stands out the presidency of the Southeast Airport Group (ASUR), which last year recorded sales of 25,822 million pesos, has 2,101 employees and is listed on the Stock Exchange.

ASUR is the first airport group in Mexico and Latin America to be listed simultaneously on the Mexican Stock Exchange and the New York Stock Exchange.

He also presides Promecap Acquisition Companya leading investment firm in Mexico that is not listed on the stock exchange. The company makes venture capital investments, participates in public markets and offers wealth and transaction advisory services.

Chico Pardo is a member of the board of Carrix-SSA Marine Inc.substitute member of the council of BBVA Mexico Financial Groupindependent director of Saltillo Industrial Group and alternate member of the board of Carso Group.

How was your deal with Banamex?

Fernando Chico Pardo and his family agreed to acquire from Citi a 25% of the shareholding of Banamex an operation that requires regulatory authorizations in Mexico and is expected to be completed in the second half of 2026.

Banamex executives indicated that the investment represents a strategic link that will allow progress in the digital and operational transformation of the bank, as well as its growth in different lines of business.

For his part, Chico Pardo highlighted his commitment to collaborating with the institution and his trust in the management team to continue modernizing its processes and customer service.

“We are very committed and happy to be part of Banamex, which is an iconic institution in Mexico with a very promising future.

“We have a lot of confidence in the team and we will continue to work very closely on the transformation that they have already started, streamlining their end-to-end digitalization, with an exceptional focus on customer satisfaction at any point of contact, and that this will further accelerate the growth that they have already started,” said the businessman.

Citi, for its part, maintains its divestment from Banamex as a strategic priority and will adjust any future decisions regarding the initial public offering in accordance with current market conditions and regulations.