Afore association appoints ex-CNBV president as new head

Bernardo González Rosas arrives at Amafore after being president of the National Banking and Securities Commission for most of 2018. He replaces Carlos Noriega Curtis.

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Mexico names new heads of securities and pensions commissions

While US-educated heads assumed their roles at the CNBV and Consar, Afore-friendly Carlos Noriega Curtis has joined the government in the finance ministry.

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Mercer: Viability of corporate pensions requires reinstating 100% deductibility to plan sponsors

Reduction of deductibility from 100% to 53% as part of the 2014 Fiscal Reform paralyzed Mexico's private-pension fund industry, said Mercer Mexico's Ivette Maya.

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Banorte sees BlackRock as source for positive change

Banorte's Alejandro Aguilar Ceballos, considers BlackRock’s arrival to the Mexican retail market as an opportunity for the industry to maintain its growth rate: "It will make us all go into training to be able to compete."

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Client demand prompts Franklin to launch ETFs in Mexico

Under the guidance of country manager Hugo Petricioli, Templeton is looking to complement its USD 800 million local-fund business with the launch of ETFs.

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Global managers dealt series of body blows in Mexico

Cross-border firms lost nearly USD 500 million in allocations when BlackRock took over Banamex's fund unit. Meanwhile, a large Afore is close to unwinding two global mandates as regulators delay implementation of fund rules.

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State Street Global Advisors cross-lists 29 additional ETFs in Mexico

“Having cross-listed the first SPDR ETFs on the BMV in 2006, the Mexican market has remained a strategic priority for over a decade," said Kathryn Sweeney, head of SPDR Americas institutional sales.

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BlackRock takes control of Citibanamex’s asset-management unit

Armando Senra, head of the Latin America & Iberia region for BlackRock, termed the transaction "transformative for BlackRock and the asset management industry in Mexico and the region."

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GBM is link between six international managers and Mexican Afores

When Afore investment in mutual funds is finally permitted, "the dynamics of this market will increase significantly," Louis Viramontes, vice president of international sales at GBM, told Fund Pro Latin America.

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Transamerica’s Mexican unit builds out product platform

Akaan Transamerica wants to take on the big players in the Mexican market, not only in wealth management, but also fund management, brokerage and insurance.

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