BlackRock (BLK) Acquires Asset-Management Business in Mexico

BlackRock (BLK) Acquires Asset-Management Business in Mexico

BlackRock (BLK) acquires asset-management business of Citibanamex — a subsidiary of Citigroup (C) — to fortify the bank’s presence in Mexico and expand its operations. Recently, BlackRock BLK announced the completion of the acquisition of the asset-management business of Citibanamex, a subsidiary of Citigroup C. The deal was announced in November 2017. Notably, all viable approvals by Mexican regulatory bodies were granted to the deal.

The deal involved acquisition of nearly $34 billion in assets under management of Citibanamex across local fixed income, equity and multi-asset products. The deal has brought together two major companies enabling both to better cater to client needs through a wider range of products and services.

Additionally, long-term potential of the Mexican market will likely aid BlackRock in catering clients with local and international investment solutions further, after serving 10 years there.

In Latin America and Iberia, BlackRock works with around 275 professionals in eight offices, managing assets worth $184 billion. Upon completion of the deal, BlackRock will now offer asset-management products to Citibanamex clients in Mexico.

Armando Senra, head of the Latin America & Iberia region for BlackRock, said: “This transaction is transformative for BlackRock and the asset management industry in Mexico and the region. As an independent asset manager with local and global capabilities, BlackRock brings Mexican clients unparalleled investment solutions backed by our world-class risk management technology.”

Per Ernesto Torres Cantu, CEO of Citibanamex, Citigroup remains committed to provide the best client experience in Mexico. He also noted that Citigroup’s association with BlackRock matches this commitment.

[…]

BlackRock (BLK) acquires asset-management business of Citibanamex -- a subsidiary of Citigroup (C) -- to fortify the bank's presence in Mexico and . . .

Follow Us On Google News | Get Our Newsletter



Trending News on PVDN

  • tropical-storm-flossie-hurricane-mexico-pacific-coastTropical Storm Flossie to Strengthen into Hurricane as It Tracks Along Mexico’s Pacific Coast Tropical Storm Flossie is expected to become a Category 2 hurricane by July 2 as it moves parallel to Mexico’s Pacific coast, bringing dangerous rainfall, wind, and surf. Tropical Storm Flossie is on the verge of forming from Tropical Depression Six-E and is forecast to strengthen rapidly into a hurricane as it parallels Mexico’s southwestern…
  • hurricane-flossie-strengthens-july-1-2025Hurricane Flossie will bring tropical storm conditions to parts of Guerrero, Michoacán, Colima, and Jalisco Hurricane Flossie intensifies off Mexico's Pacific coast with winds near 90 mph. Heavy rain, flooding, and tropical storm conditions expected in parts of Guerrero, Michoacán, Colima, and Jalisco. Hurricane Flossie continued to intensify early Tuesday morning as it moved west-northwestward off the coast of southwestern Mexico, prompting tropical storm warnings and watches across multiple states.…
  • puerto-vallarta-rainfall-hurricane-flossie-july-2025Puerto Vallarta braces for torrential rains as Hurricane Flossie gains strength Puerto Vallarta faces a high risk of flooding as Hurricane Flossie intensifies in the Pacific. Torrential rains and overwhelmed drainage systems pose major challenges for the city. Puerto Vallarta, a city wedged between the Sierra Madre mountains and the Pacific Ocean, is no stranger to dramatic weather shifts—but this summer, the skies are testing the…
  • tropical-storm-flossie-mexico-coast-rain-surf-alertCabo Corrientes under tropical storm watch as Flossie expected to Bring Heavy Rain and Dangerous Surf to Southwestern Mexico Tropical Storm Flossie is forecast to strengthen and may impact Mexico's southwest coast from Zihuatanejo to Cabo Corrientes with heavy rain, flooding, and hazardous surf early this week. Tropical Storm Flossie is expected to deliver heavy rains, gusty winds, and dangerous surf conditions to Mexico’s southwestern coast in the coming days, prompting authorities to issue…
  • tropical-storm-flossie-strengthens-mexico-june-2025Tropical Storm Flossie Strengthens Off Mexico’s Pacific Coast, Could Become Hurricane by Tuesday Tropical Storm Flossie gains strength off southwestern Mexico, with hurricane status possible by Tuesday. Storm warnings issued from Punta San Telmo to Playa Perula. Tropical Storm Flossie continues to gain strength off Mexico’s Pacific coastline, prompting tropical storm warnings and watches across several southwestern states. According to the National Hurricane Center (NHC), Flossie is expected…
  • raw-sewage-playa-los-muertos-puerto-vallartaMore Raw Sewage Dumping at Playa Los Muertos Appear to Come From Local Hotel Business owners in Puerto Vallarta are demanding action after raw sewage was discovered leaking onto Playa Los Muertos, raising public health and tourism concerns. A raw sewage leak at Playa Los Muertos in Puerto Vallarta has sparked outrage among local tourist service providers and business owners, who say the contamination is driving away visitors and…
  • cancun-beach-cleanup-sargassumMassive Beach Cleanup to Combat Sargassum in Cancun After a week of the Cancun’s tourism department denying sargassum existed and insisting media photos were fakes, over 600 public servants and volunteers joined the first simultaneous beach cleanup. In a bold step toward environmental preservation and tourism sustainability, Cancun's Municipal President Ana Paty Peralta led the city’s first simultaneous beach cleanup effort this week.…
  • oregon-murder-fugitive-extradited-puerto-vallartaFugitive Wanted for 2008 Oregon Homicide Captured in Puerto Vallarta and Extradited to U.S. Jesús Rodríguez Borrayo, a fugitive for 17 years, was extradited from Mexico to Oregon for his role in a 2008 drive-by shooting that left one dead. He was located in Puerto Vallarta. A man wanted for murder and other violent crimes in the United States for nearly two decades has been extradited after being found…
  • cancun-2025-sargassum-beaches-and-activitiesSargassum won’t ruin your Cancun vacation, there are plenty of clean beaches and tourist activities As the 2025 sargassum season continues through September, visitors to Cancun can still enjoy clear beaches like Playa Delfines and Playa Caracol. As the 2025 sargassum season intensifies across Quintana Roo, tourists are finding it more difficult to enjoy the region’s iconic white-sand beaches without encountering the unsightly brown seaweed. While the influx of sargassum…
  • tropical-wave-7-floods-bacalar-chetumal-emergency-responseTropical Wave Floods Bacalar and Chetumal as Navy and Army Activate Emergency Plans Torrential rains from Tropical Wave 7 flood Bacalar and Chetumal, prompting emergency response from the Navy and Army. Several towns remain isolated in southern Quintana Roo. Torrential rains caused by Tropical Wave Number 7 have flooded multiple communities in southern Quintana Roo, prompting a joint emergency response from Mexico’s Navy and Army. Authorities activated their…
Scroll to Top