CIBanco Removed as Trustee of CFE Fibra E; Replacement Pending

CFE Capital announced that holders of the CFE Fibra E trust approved the removal of CIBanco as trustee of Trust CIB/2919 during an assembly held on July 21. A new trustee will be appointed by the trust’s administrator from a shortlist of candidates, the firm said in a public statement.

The move comes as part of CFE Capital’s strategy to ensure that Fibra E, an investment vehicle critical to financing strategic electricity infrastructure in Mexico, continues to be managed with institutional strength and transparency. The new fiduciary must meet high standards of financial reputation and capability to address both present and future needs.

In the meantime, CIBanco will remain in place to fulfill its fiduciary duties, with the trust’s assets continuing to be managed independently from the bank’s own. CFE Capital reiterated its commitment to upholding investor confidence and protecting the interests of stakeholders while maintaining the highest governance standards for the fund.

This decision follows the recent temporary intervention of CIBanco by Mexico’s National Banking and Securities Commission (CNBV), after US authorities flagged the institution, along with two other banks, for its alleged involvement in money laundering operations.