trending Market Intelligence /marketintelligence/en/news-insights/trending/1hrvyqwp1agfnexqpa-_9w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Following acquisition Banorte cut 362 Interacciones jobs, not 500, CEO says

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Following acquisition Banorte cut 362 Interacciones jobs, not 500, CEO says

Grupo Financiero Banorte SAB de CV has only cut 362 employee positions at newly acquired Grupo Financiero Interacciones SAB de CV and not 500 jobs, CEO Marcos Ramírez Miguel said in a conference with investors, El Economista reported.

The executive said the move had been a part of necessary "reduction" measures during the integration of the companies.

The comments come after a Reuters report said Banorte had cut around half of Interacciones' workforce, or 500 jobs, including those of banking unit head Gerardo Salazar, the head of the bank's institutional business, Ignacio Zubiria, and head of brokerage operations Adolfo Herrera.

During the second-quarter earnings conference call it was also revealed that Grupo Financiero Interacciones CEO Carlos Rojo was appointed as Banorte's new general director of infrastructure and project development.

The announcements come only weeks after Banorte completed its US$1.44 billion acquisition of the Mexican lender, a deal that created the second-largest bank in Mexico. On July 26, Banorte reported a 26.6% rise in its second-quarter profit.