Background on Andrés Manuel López Beltrán
Andrés Manuel López Beltrán, a prominent figure in Mexico’s political landscape, has been absent from public appearances for two months. His last known activity was a private agenda in Mazatlán, where he spent time with his friend Daniel Asaf. He then traveled to Mexico City on Aeroméxico flight 353, discreetly boarding the plane and taking his seat in the AM Plus section.
Political Developments within Morena
Following his departure, López Beltrán was scheduled to witness the start of Luisa María Alcalde Luján’s national tour in Tlaxcala. Meanwhile, he embarked on a journey to Seattle and eventually Tokyo for his summer vacation. In terms of party politics, López Beltrán’s project to amass 10 million affiliations by the end of 2025 progressed to 63% as of August 15. His initiative, however, is now contingent on Alcalde Luján’s efforts to establish party committees in each of the 65,000 electoral sections.
With no elections on the horizon for the next 20 months, Morena’s national president has directed party efforts towards strengthening the identity of governments originating from the progressive organization’s ranks, reorienting municipal budgets to enhance public services, and nurturing leadership in governmental and popular representative positions.
The party’s top brass had already rallied behind Adán Augusto López Hernández, though they did not apologize for López Beltrán’s absence. The secretary of Organization briefly broke his silence to criticize his detractors and express frustration over the surveillance that exposed the locations and costs of his stay in Japan.
Impact on Party Bases
Luisa María and Andrés Manuel Jr. reached the pinnacle of the party apparatus ten months ago, focusing primarily on territorial efforts. Recent scandals have shaken governors, parliamentary leaders, and former party members, whose extravagance and detachment have earned public disapproval and presidential condemnation.
The contradiction between the republican austerity—a cornerstone of the Fourth Transformation—and the privileges of the new political class has negatively affected public opinion.
Secondary Effects: The Kapital Bank Acquisition
Rescue:
Kapital Bank’s acquisition of Intercam’s assets, brokerage, and investment funds signals confidence to clients and a positive sign for Mexico’s financial system. René Saúl’s bank decided to invest capital and reputation amidst uncertainty.
If Kapital Bank successfully integrates quickly, strengthens controls, and retains clients, it will not only acquire assets but also credibility, including that of Mexican regulatory authorities and the U.S. Treasury Department. The Kapital Bank team faces the challenge of retaining clients and mitigating capital outflows, ensuring a smooth operational integration through account, portfolio, and deposit migration, and establishing itself as the bank for Mexican businesses. In addition to the deal’s value, Kapital Bank will inject $100 million to stabilize operations and ensure the continuity of the over 200,000 new clients joining the existing 100,000.
