Afore Invercap CIO Antonio Sibaja has left the Mexican pension fund for its larger rival Afore Profuturo, Citywire Americas has learned.
Afore Profuturo confirmed the move to Citywire Americas, with Sibaja set to start his new role next week. The pension fund is the fourth largest in Mexico with over $18 billion in assets under management.
It is understood that Sibaja will be taking over from Eligio Esquivel, who joined as Afore Profuturo's CIO in 2015, according to reports.
Sibaja had been with Afore Invercap, which has $9 billion in assets, since 2014.
Prior to that he was a senior portfolio manager at the country’s largest Afore, the $36 billion XXI Banorte, between 2010-2013.
Before entering the institutional world Sibaja started his career at Mexico’s central bank, Banco de Mexico, in 2010 where he was a deputy general manager.
This is the latest change to senior leadership at one of Mexico’s Afores following the news this week that the head of mandates at XXI Banorte had left the pension fund.