Mexican presidential campaigns meet with BlackRock's Larry Fink


  • World
  • Tuesday, 08 May 2018

FILE PHOTO - Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas Jackson/File Photo

NEW YORK (Reuters) - Four Mexican presidential campaigns are meeting on Monday with BlackRock Inc Chief Executive Larry Fink, the world's largest asset manager said, ahead of a July 1 election that is being closely watched by financial markets.

BlackRock, with extensive ties in Mexico, engages with governments "irrespective of party affiliations," the company said in a statement. Fink will meet with the management of Citigroup Inc subsidiary Citibanamex, clients, business partners, and the four major presidential campaigns, it added.

The Mexico City meetings follow BlackRock's pending acquisition, announced in November, of the asset management business of Citibanamex.

Lopez Obrador held an "affable" meeting with Fink, said Carlos Urzua, an adviser to the candidate, by email. The campaign of Ricardo Anaya, who is running second in the polls, declined to comment. Two other campaigns did not immediately respond to requests for comment.

The possibility of a victory by Mexican leftist presidential front-runner Andres Manuel Lopez Obrador, who has threatened changes to the country's landmark reform to lure private investment to its energy markets, has spooked some investors. The peso has fallen more than 7 percent against the U.S. dollar since mid-April.

Less than two months before Mexicans vote, Lopez Obrador's support grew to 39 percent from 38 percent in the previous poll at the end of March, according to a poll released by Parametria on Thursday, but his lead narrowed to 14 points from 18.

The United States, Mexico and Canada are trying to resolve an impasse in key areas in their talks to update their North American Free Trade Agreement.

Fink has been consistently optimistic about the country's prospects. In 2014, he said if he was starting his career, he might try his luck in Mexico.

The asset manager has invested heavily in Mexico in recent years. It took a $900 million stake in the second phase of the Los Ramones pipeline project with private equity firm First Reserve. Marco Antonio Slim Domit, the son of the country's richest man Carlos Slim, is among BlackRock's board members.

(Reporting by Trevor Hunnicutt; Additional reporting by Adriana Barrera, Frank Jack Daniel, Christine Murray and Ana Isabel Martinez in Mexico City; Editing by Chizu Nomiyama and Richard Chang)

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