Citi’s Mexico Sale Will Include Afore Banamex Pension Business

Citigroup Inc. will include its Mexican pension business in the sale of its consumer, small business and middle-market banking arms in the country, according to its top executive for Latin America.

“The only thing that will remain is our corporate bank and our private bank,” Ernesto Torres Cantu, chief executive officer for the region and the former head of the Mexican unit, said in an interview. “Everything else we are selling,” said Torres Cantu, who spoke on the sidelines of a meeting of leaders from the Western Hemisphere in Los Angeles.

The future of Citigroup’s Afore Banamex has been ...