Jose Antonio Chedraui Eguia, the Chief Executive Officer of Grupo Comercial Chedraui Chedraui, S.A.B. de C.V., joined the Board of Directors of Grupo Financiero Banorte, S.A.B de C.V. in April, 2015.
Banorte is the third largest banking institution in Mexico. In time, we will be exploring in depth its involvement in facilitating the investment activities of wealthy Mexican business people and their families – members of what could be termed the “Mexican Elite”.
Jose Antonio Chedraui Eguia’s colleagues on the Board of Directors of Grupo Financiero Banorte most certainly are among the “Mexican Elite”. In future posts, we will document as best we can the business and personal investments of these directors and their families in the United States.
There seems to us very little news in either Mexico or the United States about the investment activities of the “Mexican Elite” in the U.S. We have started this examination by looking more closely at the activities of the directors of Grupo Chedraui and Grupo Banorte. We will post the results of our research in the coming weeks and months.