Citigroup’s Banamex CEO Steps Down After ‘Challenges’ in Mexico
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Citigroup Inc. said Javier Arrigunaga resigned as chief executive officer of Grupo Financiero Banamex, the most senior departure stemming from an alleged $400 million fraud disclosed in February.
Arrigunaga, 51, is being succeeded by Ernesto Torres Cantu, who joined the company about 25 years ago, the New York-based bank said yesterday in a statement. Torres, 50, will also take Arrigunaga’s place on Citigroup’s operating committee, according to a person briefed on the matter who asked not to identified speaking on personnel matters. Both are based in Mexico City.