Mexico Stock Market Seeks New Chief

Mexico’s Bolsa Mexicana de Valores is seeking a replacement for current chairman Guillermo Prieto. The local exchange says changes to the board, including announcing the chairman himself, will occur at the company’s annual shareholder meeting, for which a date has yet to be set. Prieto has been chairman of the exchange for nearly 8 years. In the running for the job is Carlos Gutierrez, Merrill Lynch’s former LatAm chairman. The widely respected veteran financier left Merrill earlier this year. Mexico-based sources say that Gutierrez is seriously considering the opportunity. The BMV was one of just 3 IPOs last year. It closed Friday at MXP8.21, down 4.53% on the day.