• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video

BlackRock to buy Mexican asset manager

BlackRock to buy Mexican asset manager
  • Eugenia Jiménez
  • Eugenia Jiménez
  • 29 November 2017
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

US asset manager BlackRock is to acquire the asset management arm of Citibanamex – a subsidiary of Citigroup – through a deal pending of regulatory approval and expected to close in the second half of 2018.

The operation – whose terms were not disclosed – will also entail a distribution agreement, through which Citibanamex clients in Mexico will have access to BlackRock asset management products.

Related articles

  • Santander set to adopt BlackRock's Aladdin platform
  • BlackRock launches Argentina office
  • BlackRock to buy Citi’s Mexican asset management biz
  • BlackRock hires former Deutsche Bank Chile exec

According BlackRock, the transaction is part of Citigroup’s emphasis on expanding access to best-in-class investment products and involves some US$31bn (€26.11bn) in assets under management of Citibanamex – across local fixed income, equity, and multi-asset products, primarily for retail clients.

Armando Senra, Head of Latin America and Iberia for BlackRock, said: “BlackRock’s ambition is to become a full solutions provider in key markets around the world. This transaction is a big step forward in that direction in Mexico. The acquisition of Citibanamex’s asset management capabilities combined with our global investment platform and technology create a stronger franchise that can deliver a more compelling set of investment solutions across client segments in Mexico.”

Jane Fraser, CEO of Latin America for Citigroup, added: “Our goal is to create a state-of-the-art bank in Mexico focused on delivering a richer, smarter, more intuitive experience to everyone who does business with Citibanamex. The agreement with BlackRock delivers on our commitment, offering clients leading asset management services, and provides BlackRock with access to our extensive network in Mexico.”

Citibanamex provides wealth management products and services to more than 20 million clients through its 1,500 branches in Mexico.

BlackRock’s business in Mexico currently focuses mostly on institutional clients, offering international investment and risk management products and services across asset classes, strategies and geographies.

 

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Latin America
  • Mergers and acquisitions (M&A)
  • BlackRock
  • Citi
  • Mexico
  • United States of America
Back to Top

Most read

More than 250,000 expats left Saudi Arabia in 3Q2020
More than 250,000 expats left Saudi Arabia in 3Q2020
FSCS warns industry of £1bn compensation bill
FSCS warns industry of £1bn compensation bill
Dubai regulator to develop cryptocurrency framework
Dubai regulator to develop cryptocurrency framework
Jersey Finance partners with Durrell trust to launch global rewilding fund
Jersey Finance partners with Durrell trust to launch global rewilding fund
Aegon UK partners HSBC Global AM to embed ESG across in-house default funds
Aegon UK partners HSBC Global AM to embed ESG across in-house default funds
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading