- In addition to the exit of Banamex's CEO earlier this month, a number of other top-ranking employees are no longer with the unit, reports the WSJ. In total, 7 of the 22 listed on Banamex's annual report as top executives are gone.
- Next up is Manuel Medina-Mora - Citi's (NYSE:C) head of consumer banking and the chairman of Bamamex. Earlier this month, it was leaked that he plans to announce his departure from Citi by early next year amid a strong push from the board.
- To put some numbers on Banamex, nearly one-sixth of Citigroup's global employees and 10% of its consumer loans are with that unit. Banamex has more than 1.6K branches vs. 900 Citi U.S. branches.
- Banamex's market share in Mexico is shrinking as a result of Citi's decision to boost risk controls - competitors have increased their loan portfolios by between 8-17% in the 12 months through August, while Banamex's is flat.