MEXICO CITY, Oct 7 (Reuters) - Mexican bank Grupo Financiero Interacciones said on Tuesday its chief executive Carlos Hank Gonzalez has decided to resign to join the board of Banorte, Mexico’s fourth-largest bank by assets.
Hank Gonzalez, whose grandfather founded Banorte, said in the statement released by Mexico’s bourse that his move did not mean the two financial groups would merge, despite local media reports suggesting a possible tie-up.
Hank Gonzalez will be replaced by Carlos Rojo Macedo, who has more than 17 years at the firm and promised to continue the same business strategy.
Last week, Banorte called for a shareholders’ meeting on October 22 to discuss a bid by Hank Gonzalez to replace his mother Graciela Gonzalez on the board.
Carlos Hank Rhon, Hank Gonzalez’s father, will keep his role as board president at Interacciones. (Reporting by Tomas Sarmiento and Alexandra Alper; Editing by Chizu Nomiyama)