BANKING & FINANCE - Aug. 15, 1995

Mexico Hires Salomon to Advise Bank Restructuring: The New York-based investment firm will assist the government in restructuring Mexico’s banking industry, badly weakened by the December peso crisis. Mexico has already taken a number of steps, including seizing banks, assuming bad loans and providing emergency funds, to stave off a collapse of the industry. Salomon Bros. Inc. said it will advise Mexico in selling the seized banks, starting with two small commercial facilities, Banca Cremi and Banco Union. Mexican banks are in trouble because millions of the country’s consumers and businesses have been unable to repay their loans after interest rates shot up after the peso’s devaluation late last year.