Carlos Hank González resigned as CEO of Grupo Financiero Interacciones to join the board of directors of Banorte, according to a statement sent to the Mexican Stock Exchange on Tuesday.

Hank González is a member of the González family, which controls around 11% of Banorte and are the heirs of founder Roberto González Barrera.

Banorte, the largest bank in the country controlled by Mexican shareholders, called a shareholders’ meeting last week for October 22, at which, in addition to a cash dividend, Hank González’s entry onto the board will be proposed, replacing his mother, Graciela González.

His presence at Banorte suggests that the family is seeking to strengthen its position on the board, amid reports of friction with the bank’s current chairman, former central banker Guillermo Ortiz, who took office in 2011.

A spokesperson for Interacciones, which specializes in government loans, told Reuters that the replacement is due to a generational change and “has no connection whatsoever with Guillermo Ortiz.”

Hank González said in a statement sent to the stock exchange that his appointment as an advisor is not due to any intention to carry out a merger between Banorte and Interacciones.

The bank’s current directors are Graciela González Moreno, Juan González Moreno, who heads the Mexican tortilla and corn flour company Gruma and is Hank González‘s uncle, and businessman David Villarreal.

Hank González will be replaced at the helm of Interacciones by Carlos Rojo, who has been with Interacciones for 17 years.

Read: https://expansion.mx/negocios/2014/10/07/hank-gonzalez-renuncia-a-direccion-general-de-interacciones