Background on Fernando Chico Pardo and His Significance
Fernando Chico Pardo is a prominent Mexican businessman with extensive experience in various industries. Known for his successful investments in Mexico over more than five decades, Pardo has consistently demonstrated confidence in the country’s potential and its people. His recent acquisition of 25% of Banamex from Citi marks another significant milestone in his long history of investing in Mexico.
Gratitude to Claudia Sheinbaum and the Mexican Government
During a press conference, Pardo expressed his gratitude to Mexico’s President Claudia Sheinbaum, Secretary of Finance Édgar Amador, and the entire Mexican government for their support in making this substantial acquisition possible. He emphasized the importance of the confidence he has in the current government and its vision for Mexico.
“I would like to thank the lady president Sheinbaum, Mr. Secretary of Finance, and all Mexican government authorities for the support they have provided to make this very significant operation possible for our people,” Pardo stated.
No Conditions from President Sheinbaum
Pardo mentioned that during conversations with President Sheinbaum, no conditions were imposed on the operation. He shared that he found the challenge of returning Banamex to Mexican ownership both daunting and exciting.
Pardo initiated discussions with Citigroup approximately six months ago, and as time passed, his enthusiasm for the project grew. Eventually, he made a formal offer to acquire 25% of Banamex from Citi.
Support from Banamex President Ernesto Torres Cantú
Ernesto Torres Cantú, President of Banamex, also expressed his appreciation to President Sheinbaum and Secretary Amador for their valuable support in transitioning Banamex back to Mexican ownership.
Plans for Banamex
Fernando Chico Pardo outlined his plans for Banamex, which include prioritizing investments to drive technological transformation. He aims to create a customer-centric organization focused on client satisfaction, accelerate credit placement, and regain market share lost in previous years.
Tax Payment Commitment
Regarding tax payments for this transaction, Ernesto Torres confirmed that Citi will fulfill its obligation once the deal is finalized. Meanwhile, Pardo stressed that paying taxes is not just a legal requirement but also a moral responsibility.
Key Questions and Answers
- Who is Fernando Chico Pardo? A successful Mexican businessman with over five decades of experience investing in the country.
- What is the significance of this acquisition? It marks another milestone in Pardo’s long history of investing in Mexico and brings Banamex back to Mexican ownership.
- What are Pardo’s plans for Banamex? Prioritize investments for technological transformation, create a customer-centric organization, accelerate credit placement, and regain lost market share.
- Will Citi pay taxes on this transaction? Yes, Citi will fulfill its tax obligations once the deal is finalized.
- Why is paying taxes important to Pardo? He views it as a moral responsibility, not just a legal obligation.
