Citi CEO Visits Mexico President During Banamex Stake Talks (1)

Citigroup Inc. Chief Executive Officer Jane Fraser is in Mexico City for talks with President Claudia Sheinbaum that include the potential public listing of her bank’s retail unit Banamex, according to people familiar with the matter.

The meeting comes as Citigroup prepares to launch an IPO for Banamex and as Mexico remains in talks with the US to avoid higher tariffs on exports to the country. The pair have met a few times since Sheinbaum won the country’s election last June.

New York-based Citigroup has been courting wealthy Mexicans to buy a chunk of Banamex that could be built into ...