Carlos Slim Calls for Investment Diversification: Finance Week

This week in finance news, Carlos Slim urged business sectors to diversify investments and strengthen ties with both China and the United States. Hey Banco began operations as an independent bank this February. Mexico’s Central Bank has indicated faster rate cuts as inflation eases toward the institution’s target.

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Carlos Slim Urges Investment, Stronger US-China Trade Ties

In his annual press conference, Carlos Slim, Mexico’s wealthiest businessman and chairman emeritus of Grupo Carso, outlined key economic strategies, emphasizing increased investment, strengthening trade ties with China and the United States, and boosting domestic production.

HSBC Appoints Julian Wentzel as Chief Sustainability Officer

HSBC has appointed Julian Wentzel as its Group Chief Sustainability Officer. Wentzel, who joined the bank in 2015, had been fulfilling the role on an interim basis following the departure of Celine Herweijer in November.

Mexico’s Hey Banco to Debut as Independent Bank in February

Hey Banco, currently the digital arm of Banregio, is set to begin operations as an independent bank in February following approval and licensing, according to Manuel Rivero, CEO, Grupo Regional. Hey Banco has already built a substantial customer base, serving over 520,000 individual clients and 14,000 small and medium-sized businesses (SMEs), with total deposits of MX$12 billion (US$581 million). 

Banxico Speeds Rate Cuts as Inflation Eases in Mexico

Mexico's inflation trajectory has prompted Mexico’s Central Bank (Banxico) to accelerate interest rate cuts as the economic landscape shifts. With inflation easing and economic and trade uncertainties posing challenges, policymakers are recalibrating their approach to balance financial stability and growth.

Mexico’s 2024 Remittances Record at Risk from Trump Policies

In 2024, Mexico received US$64.7 billion in remittances, setting a new record for annual inflows, according to Mexico’s Central Bank (Banxico). This marked a 2.25% increase compared to the US$63.3 billion received in 2023, which was also a record at the time.