Fernandez will report to Raul Martinez-Ostos, chairman and CEO of Barclays for Mexico and Latin America, in his new position.
With almost 25 years of expertise in investment banking, Fernandez has provided advice on numerous intricate and crucial transactions in Mexico.
He formerly worked for Bank of America, where he served as head of Mexico investment banking.
Fernandez began his career at JPMorgan, where he worked in the Debt Capital Markets (DCM) division, before spending 12 years at Credit Suisse as head of Mexico investment banking and capital markets group.
Martinez-Ostos said: “Under Ricardo’s sole leadership of our Advisory, DCM and Risk Solutions Group (RSG), these closely integrated teams will continue to grow and thrive, and our clients will benefit from this unique and powerful locally focused construct. Ricardo has a deep understanding of Mexico’s financial sector and industries, and during his long and successful career to date has built very strong relationships and has an outstanding credibility that will be immensely valuable as we continue to expand our coverage in Mexico. This will serve to further position our franchise as one of the leading investment banks in the country, working in close partnership with our clients to drive differentiated and successful outcomes.”
Barclays has been a dependable partner in Mexico for many years and has been the driving force behind some of the biggest transactions for its most significant clients, notably the Mexican government.
It most recently led the largest landmark banking transactions in Mexico, including acting as sole financial advisor to Mexico’s retail and bottling giant FEMSA on its $7bn sale of a stake in Dutch brewing company Heineken.
As well as being the sole advisor to the Mexican government on its $6bn purchase of an 8,500 MW power portfolio from Iberdrola, an innovator in grids, storage, and sustainable energy.
Additionally, this month, Barclays served as global coordinator and main bookrunner for Vesta, a Mexican industrial real estate business, in its $446m equity offering on the NYSE.
This was the first US listing for a Mexican issuer since 2017.