Jaime Chico Pardo, '74
Chief Executive Officer of Telefonos de Mexico
Cities: Mexico City
Jaime Chico Pardo, '74, has been Chief Executive Officer of Telefonos de Mexico, S.A. de C.V. (TELMEX) since January 1995. He was part of the group, including Southwestern Bell and France Telecom, that put together the winning bid in 1990 to buy Telifonos de Mixico, S.A. de C.V., as Telmex was then known, from the Mexican government. During his tenure as CEO, he has not only succeeded in bringing the company up to speed, he reinvented Telmex as a global high-tech multimedia company.
Chico Pardo studied engineering at Universidad Iberoamericana in his native Mexico to give himself a technical background, knowing he would earn an MBA later. After graduating from Chicago Booth's Full-Time MBA Program, Chico Pardo took a job at Banamex, one of Mexico's biggest banks. He spent six years doing M&A work in the international division, ultimately managing the operations of companies the bank acquired.
He then moved to London to become deputy managing director of the International Mexican Bank (INTERMEX), a consortium of foreign banks that funded development in Latin America. Wishing to move back to Mexico, he returned to Banamex when they offered him a senior position. One month later, banks were nationalized. And so, he spent the next two years as senior vice president in charge of the international division, traveling a lot and convincing people the bank was still a good credit.
Chico Pardo left Banamex and launched International Financial Engineering, one of the first investment banks in Mexico, with two partners who had been CEOs at private Mexican banks. After two years, Chico Pardo left to partner with Carlos Slim, the wildly successful Latin American business mogul, at Fimbursa, an investment bank. Their focus was companies that either were in private Mexican hands or private foreign hands. One of their first acquisitions was the Mexican subsidiary of Hershey. Chico Pardo wound up running the chocolate candy factory in Mexico. Later, he would head Nacobre, Euzkadi-General Tire de Mexico, and Condumex, among other firms.