March 10, 2018 / 1:13 AM / 7 days ago

UPDATE 1-Mexico's Alfa says CFO to leave after insider trading probe

(Adds details from statement)

MEXICO CITY, March 9 (Reuters) - The chief financial officer of Mexican conglomerate Alfa, Ramon Leal, will leave the firm effective March 31 after an investigation by the country’s banking regulator, the company said in a statement on Friday.

An investigation by regulator CNBV fined Leal 195,018 pesos ($10,349) in January for “making trades with privileged information” in 2011.

“His decision... is due to the investigation by the national banking and securities commission with respect to operations arranged in relation to shares of the company,” the statement said.

Alfa added that Leal decided to leave out of respect for the “interests and values” of the company.

Alfa’s chief executive officer, Alvaro Fernandez Garza, will do Leal’s job until a replacement is announced, the company said.

Alfa operates in industries ranging from food packaging to car parts to petrochemicals. (Reporting by David Alire Garcia)

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