Citi Mexico sees new opportunities with banks after Banamex split
C•Citi Mexico plans to expand services to other banks after its separation from Banamex gave it greater freedom to serve financial institutions, CEO Luis Brossier said. Citi recently led Banamex's first additional tier-one bond issuance and is set to play a role in its eventual IPO, expected in 2027.
1. Expansion after separation
Citi Mexico is aiming to grow its business with other banks following its separation from Banamex in 2024, CEO Luis Brossier said. He said Citi already serves corporate clients that moved with the institutional banking business and now sees an opportunity to do more for them.
2. New banking clients
Citi recently led Banamex's additional tier-one bond issuance, its first sale of high-risk debt as it builds an independent balance sheet. Citi is also set to play a role in Banamex's planned IPO, which Citigroup expects in 2027. Brossier also cited bond issuance work for BBVA in Mexico and opportunities in commercial and private banking.
