On Guard for Labor

On Guard for Labor

Mexico

Mario Gabriel Budebo The president of Consar, Mexico's pension fund regulatory agency, has adopted tunnel vision since his appointment last year. "The worker is our only client," says Mario Gabriel Budebo. "We don't have any interest in thinking about anything else." The 1997 legislation that set up Mexico's pensions system, modeled on 401(k)s in the US, put labor union leaders on Consar's board. Although Gabriel Budebo is the target of heavy lobbying from any number of special interests, he must always put organized labor first. "We sit on this committee with members of the unions, and that disciplines us to think

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial