Ualá acquired ABC Capital bank in November 2021 for an amount that was not disclosed; the operation is still subject to approvals from Mexican regulators.
“The digital financial services industry is growing more and more and at the same time, generating constant changes in the sector. I am very happy to join Ualá, to continue promoting financial inclusion in Mexico. In this sense, we seek to strengthen our value proposition in the market and build an ecosystem that allows people to have access to more and better financial products,” Madrazo Lajous mentioned in the company’s statement.
Who is Luis Madrazo Lajous?
Madrazo Lajous has a bachelor’s degree in Economics from the Autonomous Technological Institute of Mexico (ITAM) and a Ph.D. from Yale University.
The economist has experience in the public and private sectors. His most recent position was at Scotiabank as Corporate Director of Financial Planning, Analysis and Controllership. He also worked in an office as an economic adviser and was on the work team during José Antonio Meade’s campaign when he was seeking the presidency of the Republic.
In the public sector, he worked at the Ministry of Finance and Public Credit (SHCP), where he designed and led the fiscal consolidation process between 2015 and 2018. He was coordinator of advisers to the Undersecretary of Finance, he was head of the development bank in 2012 to 2014 and deputy general director of the pension and social security division.
