“The meeting approved Hank González’s appointment with 76% of votes in favor and 21% abstentions; it should be noted that the percentage of abstentions is within the typical range observed in most items voted on at shareholder meetings,” the Mexican bank said in a statement.

A member of a family of businesspeople and politicians, Carlos Hank González left the general management of Grupo Financiero Interacciones to join the Board of Directors of Banorte.

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

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

Read: https://expansion.mx/negocios/2014/10/22/carlos-hank-gonzalez-es-nombrado-consejero-de-banorte

“We are ready to support not only Tesla, but also state governments in creating infrastructure,” said Carlos Hank, chairman of the board of Grupo Financiero Banorte, in an interview.

The Mexican businessman emphasizes that Tesla’s arrival is a historic opportunity for the country and that the bank is ready to support SMEs seeking to set up a cafeteria for employees, offer products such as payroll services, or provide loans to new plant workers.

Hank believes that nearshoring should benefit companies in Mexico and not just in the northern region.

Although forecasts for the Mexican economy show signs of a slowdown in 2023, Hank believes that the arrival of new companies due to the nearshoring phenomenon will help boost the economy.

Banorte plans to invest around 13% of its annual revenue in technology and to provide credit to individuals and companies. In its 2023 guidance, Banorte estimated revenues of between 50.5 billion and 52.5 billion pesos.

“That’s 13% of revenue. The plan will continue to be to increase our revenue and, in the same way, increase investment in the country,” he said.

Read: https://expansion.mx/economia/2023/03/14/banorte-oportunidad-nearshoring-tesla

One of the main attributes taken into account in recognizing Banorte is the 2- to 3-digit growth in various digital transactions so far this year, especially through its Banorte Móvil mobile app, which has reduced the volume of transactions carried out in branches to less than 4% of the total.

The Banker also recognized Banorte’s accelerated migration to self-service with an increase in customer satisfaction, NPS (Net Promoter Score), driven by its work culture in “Cells,” multidisciplinary teams created, according to the bank, with the aim of exceeding customer service expectations.

Carlos Hank González, Chairman of the Board of Directors of Grupo Financiero Banorte, commented: “At Banorte, we are convinced that the new banking model must focus on digital services and personalization. This recognition is the result of our commitment to Mexicans, and we will continue working to offer them the best experience in financial services.”

Read: https://www.fundssociety.com/es/noticias/negocio/the-banker-reconoce-a-banorte-como-el-banco-de-ano-en-mexico/

As part of the agreement, Interacciones shareholders will receive more than 13.712 billion pesos and the remainder through 109.7 million Banorte shares, corresponding to the exchange of all shares representing the capital stock of the group specializing in financing governments and infrastructure.

To complete the transaction, Banorte will issue additional securities representing approximately 4% of the total securities currently in circulation.

The transaction is expected to be completed in the second quarter of next year.

Banorte’s shares fell to their lowest level in more than five months and closed down 9.29% on the Mexican Stock Exchange at the end of trading on Wednesday.

Interacciones, for its part, is one of the main lenders to state and municipal governments.

The move still needs to be approved by the Federal Economic Competition Commission (Cofece).

The companies said that as a result of the transaction, Banorte will become the country’s second-largest financial group in terms of total assets, loan portfolio, and deposits, as well as operating the largest bank owned by Mexican investors and the country’s largest pension fund.

The current president of Banorte, Carlos Hank González, is the son of the chairman of the board of Grupo Financiero Interacciones, Carlos Hank Rhon.

Interacciones was founded in 1987 as a brokerage firm and in 1993 became another financial group in the country. Banorte was founded in 1899 in Monterrey.

Read: https://www.eleconomista.com.mx/sectorfinanciero/Banorte-e-Interacciones-de-la-familia-Hank-se-fusionaran-20171025-0072.html

Valenzuela will be replaced by José Marcos Ramírez Miguel, who until now served as the group’s chief executive officer of Wholesale Banking.

“The changes decided upon by the Board of Directors today will contribute to strengthening the corporate governance of Grupo Financiero Banorte, marking the beginning of a new era of collaboration between all of the institution’s governing bodies and management,” Hank González emphasized.

Last October, Hank González resigned as CEO of Grupo Financiero Interacciones with the intention of accepting the nomination made at that time by a group of Grupo Financiero Banorte shareholders to join its board of directors.

Read: https://www.fundssociety.com/es/noticias/nombramientos/hank-gonzalez-asume-la-presidencia-de-banorte-tras-la-renuncia-de-guillermo-ortiz/

Carlos Hank González, grandson of Roberto González Barrera, founder of Banorte, is now a proprietary advisor to this Monterrey-based financial group. This follows his appointment by the shareholders’ meeting. On Thursday, he must be ratified by the Board of Directors, which is holding its regular meeting.

Until a few days ago, he was CEO of Grupo Financiero Interacciones, obtaining 76% of the shareholders’ votes in favor, 21% abstentions, and the rest against. Carlos Hank González will replace his mother, Graciela González Moreno, who in turn was appointed alternate director.

The arrival of Hank González, who had a brief stint at Banorte in 2003 as deputy director of the bank, seeks to strengthen his family’s presence in the financial group. Unofficially, it has even been mentioned that he is seeking the presidency of that institution, headed by Guillermo Ortiz Martínez, with whom the González family has had strong disagreements in recent years.

In early October, Carlos Hank González resigned as CEO of Grupo Financiero Interacciones (of which Carlos Hank Rhon is chairman of the board of directors) to seek a seat on Banorte’s board of directors, which finally materialized yesterday.

Read: https://www.eleconomista.com.mx/sectorfinanciero/Carlos-Hank-Gonzalez-ya-es-consejero-de-Banorte-20141022-0216.html

At the ordinary general shareholders’ meeting, Hank González obtained 76% of the votes in favor and the rest were abstentions, meaning he will replace his mother, Graciela González Moreno, on the Board.

“The percentage of abstentions is within the typical range observed in most items voted on at shareholders’ meetings,” Banorte explained.

On October 7, 2014, Grupo Financiero Interacciones announced that its CEO, Carlos Hank González, had resigned from his position to join the board of directors of Grupo Financiero Banorte. At the time, the executive ruled out the possibility of a merger between the two banks.

The vote took place in Monterrey, Nuevo León, at the Banorte Tower.

Banorte has more than 6,000 investors. The main ones are:

The González family, with 11% of the capital;
The Villarreal family, with around 3%;
The Abberdeen capital fund, with 7%;
Blackrock, with 5%;
plus 470 other major investors.

Since August 11, when it was announced that Ortiz could leave the Board, Banorte’s market capitalization had fallen by 26.156 billion pesos as of October 20.

Hank González is a member of the González family and heir to Roberto González Barrera, founder of Mexico’s third-largest bank by loan portfolio.

Carlos Hank, in addition to representing the link between two of Mexico’s most powerful families, the González Barreras and the Hank Gonzálezes, is set to take over as president of the Group if Guillermo Ortiz resigns.

To date, Banorte’s Board of Directors is composed as follows:

Guillermo Ortiz Martínez, president and related director;
Graciela González Moreno, David Villarreal Montemayor, and Juan Antonio González Moreno, as equity directors;
Everardo Elizondo Almaguer, Alfredo Elías Ayub, Herminio Blanco Mendoza, Adrián Sada Cuena, Patricia Armendáriz Guerra, Armando Garza Sada, Héctor Reyes-Retana, Juan Carlos Braniff Hierro, Miguel Alemán Magnani, and Alejandro Burillo Azcarraga as independent directors;
Alejandro Valenzuela del Río, director, as related director.

Read: https://www.eleconomista.com.mx/sectorfinanciero/Accionistas-apoyan-a-Carlos-Hank-para-ser-consejero-de-Banorte-20141022-0195.html