The Secretary of the Treasury, Rogelio Ramírez de la O, met this Thursday in New York with the executive directors of JPMorgan Chase and BlackRock, according to a Bloomberg News report.
The official had separate meetings with JPMorgan’s Jamie Dimon and BlackRock’s Larry Fink, according to people with knowledge of the matter who are not authorized to speak publicly about the meetings.
The firms declined to comment and the Treasury did not immediately respond to a request for comment from Bloomberg.
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The meetings would have occurred at a time when Claudia Sheinbaum’s government considers the change of administration as an opportunity to boost investment.
Investor sentiment towards Mexico has become nervous since the landslide electoral victory on June 2 gave Morena and allies enough power to reform the Constitution, the agency specialized in financial information recalled.
Before the election turmoil, Dimon said in November that he saw a “huge” opportunity in Mexico amid a boom of factories moving to the country to be closer to the US market under nearshoring.
JPMorgan strategists this Thursday lowered their long bullish forecast for the peso due to the risks of a “highly unpredictable” US presidential election.
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Fink met several times with Andrés Manuel López Obrador, who often had strained relations with Mexico’s billionaires.
BlackRock’s CEO last visited Mexico in February, when he met Sheinbaum as a candidate and underlined the investment management firm’s commitment to the country, where it sells products to pension funds and acquired the asset management business of Citigroup’s Citibanamex unit in 2018.
JPMorgan closed its private banking operations in Mexico in 2021, but Dimon reiterated last year that the company had increased its capital in the country.
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