Overview
- BBVA México’s shareholders approved Fernando Chico Pardo’s resignation as an alternate board member effective October 28, 2025.
- The bank released him from all responsibilities related to his role and granted the corresponding finiquito under applicable law.
- Rafael Salinas Martínez de Lecea was appointed as his alternate replacement effective the same date, and the board was ratified with Jaime Serra Puche as chair and Eduardo Osuna as vice chair.
- Chico Pardo agreed in September to acquire 25% of Banamex for 42,000 million pesos, and Citi formally submitted the approval request to Mexican authorities on October 14.
- Upon regulatory approval and closing, he would become chair of Grupo Financiero Banamex while Manuel Romo remains CEO, and BBVA’s Eduardo Osuna noted Chico Pardo’s 15-year tenure and said he will be a strong competitor.