Mexican President Vicente Fox has named Hector Reyes Retana as the new CEO of Exim bank, Banco Nacional de Comercio Exterior (Bancomext), effective October 24, according to a finance ministry press release.
Reyes replaces Jose Luis Romero Hicks who will continue to work with the federal government.
Local press has speculated that Fox will order the merger of development bank Financiera Nacional (Nafin) and Bancomext as early as this month. The new bank would have total assets of 366bn pesos (US$32.6bn) and a loan portfolio of 263bn pesos, making it one of the country's five largest banks.
Source: BNAMericas
