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Mexico’s macro-economic outlook: Overcoming challenges to maintain fiscal stability in a post-COVID economy

Broadcast on May 20, 2021 from Livestream: Bonds & Loans Mexico 2021 - Virtual

Gold Sponsor

Fitch Ratings

Gold Sponsor

HSBC

Gold Sponsor

SMBC

Silver Sponsor

KPMG

Bronze Sponsor

Citi

Bronze Sponsor

Moody's Investors Service

Bronze Sponsor

Sainz Abogados

Supporting Partner

Mexican Chamber of Commerce - GB

Subscribe for access:

  • What strategies can be employed to grow the Mexican economy in line with expected 5% in 2021? How likely is a downgrade, and how could this impact growth?
  • How does the Federal Reserve’s low interest rate interplay with Mexico’s FX and interest rates? How could continual low rates impact Mexico’s economic recovery?
  • Does the central bank have reserve buffers to deliver fiscal stability into 2022?
Mexico

Moderator

Adrián Garza

Adrián Garza

Vice President, Senior Analyst

Moody's Investors Service

Adrián Garza

Adrián Garza

Vice President, Senior Analyst at Moody's Investors Service

Adrian is presently a Vice President - Senior Analyst in the Global Project and Infrastructure Finance Team. Adrian holds lead analytical responsibility for a portfolio of infrastructure companies and projects in Latin America and the Caribbean. The portfolio covers toll-roads, energy utilities, natural gas pipelines, airports, PPPs, and other infrastructure assets.

In his role, Adrian develops and conducts research on sector trends and industry related topics. He is a regular participant at high-profile market briefings, external conferences and media engagements. Adrian is also a spokesperson for Moody’s in Latin America for environmental, social and governance (ESG) topics.

Adrian’s experience in financial analysis spans for 15 years. Before joining Moody’s in 2010, he gained experience in investment banking where he executed transactions in the housing and publishing industries. Prior to that, he worked at a credit rating agency in the structured finance, project finance and sub-sovereign teams.

Adrian holds a MSc in Economics and Philosophy from London School of Economics and Political Science (LSE), and a BA in Economics from Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM). Adrian is also a CFA charter holder.

Moody's Investors Service

Adrián Garza

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, and the firm's ratings and analysis track debt covering approximately 130 sovereign nations, 11,000 corporate issuers, 21,000 public finance issuers, and 76,000 structured finance obligations.

Speakers

Jorge Unda

Jorge Unda

Chief Investment Officer, USA

BBVA

Jorge Unda

Jorge Unda

Chief Investment Officer, USA at BBVA

Mr Unda is an economist from UDLAP, receiving two national awards for his thesis proving efficiency in the Mexican stock exchange market. He holds a master degree in Finance by ITAM, and he has been a CFA charterholder since 2007.Since 2010 he has been the CIO of BBVA Asset Management for Latin America, managing over $35 billions of assets mainly in mutual and pension funds, insurance portfolios and private wealth clients.

Oversees the investment decisions and asset allocation of the Latin American team for México, Chile, Colombia, Peru, Argentina and Brazilian Portfolios. He is also responsible for the management of BBVA Bancomer ETFs and other passive management investments.

Jorge Unda has also great experience in Private Banking, Product Development and equity portfolio management.Jorge Unda is also member of the board for the CFA Society of Mexico.

BBVA

Jorge Unda
Eduardo Suarez

Eduardo Suarez

Head of Research, Mexico,

Scotiabank

Eduardo Suarez

Eduardo Suarez

Head of Research, Mexico, at Scotiabank

Eduardo Suárez is Vice-President, Latin America Economics. In this role, Eduardo will leverage the Bank’s Latin American experience and focus on Mexico, Chile, Peru and Colombia, providing direct support to the Pacific Alliance. Prior to this role, he held the position of Director & Co-Head, LatAm Strategy on the Foreign Exchange Strategy team. And prior to joining Scotiabank, he worked as an Emerging Markets strategist at another major Canadian bank, as an economist in Mexico’s Finance Ministry and as a corporate credit analyst for a Mexican bank. Eduardo holds an MBA with a major in financial engineering from the Rotman School of Management and a BSc in Economics from the University of Warwick in the UK.

Scotiabank

Eduardo Suarez
Alejandro Padilla

Alejandro Padilla

Executive Director of Economic Research & Financial Markets Strategy

Banorte

Alejandro Padilla

Alejandro Padilla

Executive Director of Economic Research & Financial Markets Strategy at Banorte

Alejandro Padilla has more than 15 years of experience as a professional economist and macro strategist. Mr. Padilla is Head Strategist of Fixed-income, FX and Commodities (Research Director) at Banorte bank, based in Mexico City. He has been holding this post for the last 9 years. Previously, Mr. Padilla worked for 3 years at J.P.Morgan Chase as Emerging Markets Strategist, based in the Mexico City office. He has also worked in the financial sector in areas related to treasury, economic research and IR. Mr. Padilla obtained a Master’s degree in Economics from University of Stellenbosch in South Africa, together with an Honours degree (graduate level) in Financial Economics from the same institution. He holds a Bachelor’s degree in Economics from ITAM in Mexico and a Corporate Finance Executive Education Diploma from Kellogg/Northwestern University. On the academic front, Mr. Padilla has lectured in the MBA program at Universidad Iberoamericana and at several diploma programs about corporate finance and market economics at Tecnológico de Monterrey – EGADE Business School, Universidad Anáhuac and Riskmathics. He actively participates in national and international publications, as well as in radio and TV specialized programs, highlighting a monthly newspaper column at El Financiero Bloomberg. He was awarded with the “Future Leaders” distinction in 2017 by the Institute of International Finance. He has dictated several conferences about economics and financial markets in Mexico, United States, Europe and Asia.

Banorte

Mark Capstick

Mark Capstick

Mark Capstick

Investment Officer at Colchester Global Investors

Mark Capstick, BA (Hons)

Investment Officer

Mark is an Investment Officer at Colchester Global Investors and has been with the firm since June 2016. Mark started his career in 1998 and has managed bonds and currencies since 2000. Prior to joining Colchester, Mark was an Emerging Market Bond and Currency Investment Manager at Fischer, Francis, Trees & Watts (FFTW), starting in 2012. Before FFTW, Mark was a Fund Manager at Rexiter Capital Management, a subsidiary of State Street Global Advisors (SSgA). While there he was responsible for the analysis and management of Asian fixed income and currency investments for Rexiter's emerging markets fixed income products. He joined Rexiter in November 2006 from SSgA where he worked as an Investment Manager in SSgA's Global Fixed Income group, focusing on ‘developed world economies,’ most notably those in the dollar bloc. In 2003 and 2004 Mark worked in Singapore and assisted in building the first local currency denominated Asian bond fund. Mark earned a BA (Hons) in Financial Services from Manchester Metropolitan University.

Colchester Global Investors