Corporativo GBM Appoints New CEO and Prepares MXN 7.5 Billion Bond Issuance

Corporativo GBM, the holding company that controls Mexican brokerage GBM Casa de Bolsa, has appointed co-founder Fernando Ramos González de Castilla as its new chief executive officer. The decision was approved at an Ordinary and Extraordinary General Shareholders’ Meeting, the firm announced in a filing with the Mexican Stock Exchange.

Ramos, who previously served on the board of directors, is the brother of Diego Ramos González de Castilla, the company’s board chairman. Both are co-founders of the financial institution.

In the same meeting, shareholders also named Hugo López Coll as the company’s legal officer, a role with equivalent functions to that of general counsel, according to the exchange filing.

Additionally, shareholders authorized Corporativo GBM to establish a revolving bond issuance program of up to 7.5 billion Mexican pesos (approximately US$422 million at current exchange rates). The program is designed to give the firm flexible access to the debt market, enabling it to finance operations, investments or refinance liabilities as market conditions allow.