Jorge Alamillo
About Jorge Alamillo
Jorge Alamillo is Chief Compliance Officer (CCO) of The Mexico Fund, Inc. (MXF), serving since May 2015, and is a retired Deloitte Mexico Audit Partner; he was age 66 as of the 2025 proxy and is listed among officers in MXF’s filings . As CCO, he reports directly to the Board and provides quarterly compliance program updates; the Fund states it directly pays the portion of his compensation for CCO services and does not grant options or compensation plans to officers . For context, MXF reported net investment income of $4.65M in H1 FY2025 and $2.05M in H1 FY2024, with net increases in net assets from operations of $32.08M and $60.52M respectively, reflecting portfolio and market performance rather than executive-linked metrics .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Deloitte Mexico | Audit Partner | Not disclosed | Audit leadership background supporting rigorous fund compliance oversight |
External Roles
No external directorships or roles for Jorge Alamillo are disclosed in MXF filings; he is described solely as a retired Deloitte Mexico Audit Partner .
Fixed Compensation
MXF discloses that officers are not paid for services to the Fund except expense reimbursement; however, the Fund directly pays the portion of Mr. Alamillo’s compensation for his services as CCO. MXF does not grant options or any compensation plans to its officers .
| Metric | H1 FY2024 (Six months ended Apr 30, 2024) | H1 FY2025 (Six months ended Apr 30, 2025) |
|---|---|---|
| Chief Compliance Officer fees (Fund expense) ($USD) | $14,919 | $14,817 |
| Directors’ and Officers’ expenses ($USD) | $52,271 | $27,441 |
Notes: “Chief Compliance Officer fees” are shown in the Statement of Operations as an expense line item; MXF states the Fund directly pays the portion of Mr. Alamillo’s compensation for CCO services (no base salary/bonus schedule disclosed) .
Performance Compensation
MXF states it does not grant options or compensation plans to its officers, and no performance-based bonuses, PSUs/RSUs, or option awards are disclosed for Mr. Alamillo .
Equity Ownership & Alignment
- Beneficial ownership for officers other than the CEO is not itemized in the proxy tables; no share count or pledged/hedged positions are disclosed for Mr. Alamillo .
- Director stock ownership policy requires independent directors to acquire and retain $100,000 in Fund shares; this policy applies to directors, not officers .
Employment Terms
- Role and tenure: Chief Compliance Officer since May 2015; age 66 in 2025 filings; retired Deloitte Mexico Audit Partner .
- Compensation arrangement: Fund directly pays portion of CCO compensation; officers otherwise are not paid by the Fund beyond expense reimbursements; no options or officer compensation plans .
- Severance/change-of-control, non-compete, non-solicit, garden leave, post-termination consulting: Not disclosed in MXF filings reviewed .
- Section 16 compliance: The Fund believes Reporting Persons (including officers) complied with filing requirements in FY2023 and FY2024 .
Performance & Track Record Context (Fund)
| Metric | H1 FY2024 (Six months ended Apr 30, 2024) | H1 FY2025 (Six months ended Apr 30, 2025) |
|---|---|---|
| Net Investment Income ($USD) | $2,052,350 | $4,645,496 |
| Net Increase in Net Assets Resulting from Operations ($USD) | $60,522,005 | $32,079,173 |
| Distributions Paid ($USD) | $6,174,638 | $4,115,601 |
Governance/oversight: The CCO reports directly to the Board; the Board and committees meet regularly and convene executive sessions with and without the CCO to oversee compliance, audit and risk .
Investment Implications
- Pay-for-performance alignment: With no disclosed equity awards, options, or variable pay tied to Fund TSR or financial metrics for officers, direct pay-for-performance linkage for the CCO appears limited; compensation is service-fee based (Fund-paid portion), reducing equity-driven selling pressure signals .
- Retention and continuity: A decade-long tenure (since May 2015) suggests continuity in compliance leadership; the Board’s structure shows routine engagement with the CCO, supporting robust oversight processes .
- Trading/insider pressure: Section 16 compliance is affirmed by the Fund for Reporting Persons in FY2023–FY2024; no Form 4 transactions for Mr. Alamillo are disclosed in the filings reviewed, and officer equity holdings/pledging are not disclosed, limiting trading-signal interpretation .
- Risk flags: No clawbacks, severance, or change-of-control economics are disclosed for officers; absence of equity awards reduces alignment red flags such as pledging/hedging but also lessens incentive alignment with market performance .