Werner Heard Quitting Hacienda

Alejandro Werner has resigned as Mexico’s undersecretary of Hacienda y Credito Publico, according to local press. He is expected to be replaced by revenue undersecretary Jose Antonio Meade, who will be replaced by Jose Antonio Gonzales Anaya, according to local press speculations. “Replacing undersecretary Werner is an extremely difficult task, because of his strong academic background, vast experience in the Mexican public sector, and strong credibility in international financial markets,” say analysts at Goldman Sachs’ EM economic research team. However, they add that both likely replacements – Meade and Gonzales – have strong public sector experience so, if confirmed, would be good appointments. Werner’s brother Martin runs Goldman in Mexico. A spokesperson for the finance ministry declines to comment on the expected departure.