Last updated: 20:58 / Wednesday, 9 May 2018
Néstor Fernández

Afore Metlife's Former CIO Takes Over as CIO of Merged Afore Principal

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Afore Metlife's Former CIO Takes Over as CIO of Merged Afore Principal

"Néstor Fernández currently holds the position of Head of Investments of Afore Principal Mexico. In this position, Nestor is in charge of the investments for Principal Afore and reports directly to Juan Manuel Verón, who serves as CIO of Principal Mexico." Said Principal to Funds Society, just after the Pension System's regulator (CONSAR) informed that the merger of Afore Principal and MetLife has been completed.

With the conclusion of the merger, announced on October 26, 2017, Afore Principal becomes the fifth afore of the Mexican system, with assets under management which amount to almost 227 billion pesos or approximately 11.6 billion dollars.

Until now, the portfolio managed by Fernandéz was almost 70 billion pesos, which means that after the merger, his managed assets almost tripled. With more than 20 years of experience in the financial sector, Fernandez joined Metlife Argentina in 2005, transferring to Mexico in 2009, until separating from the firm for the period between 2011 and 2014. Among other companies, he worked at Citi, Grupo Generali and Megainver. He studied at the National University of La Plata, and has a specialization from the University of Buenos Aires and an MBA from the University of the Americas.

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