Santander launches Private Wealth

• New initiative of Santander Private Banking (SPB) to target individuals with net worth of more than €20 million.
• New services include value-added investment products and solutions within traditional and alternative investments, such as, private equity, infrastructure, private debt and real estate.
• SPB expands collaboration with Santander Corporate Investment Banking to offer tailored investment banking services to qualified Private Wealth clients.
• New resources include support to the next generation of clients’ families and businesses through Santander’s long-standing partnership with some 1,300 universities around the world.

Santander Private Banking announces the launch of Private Wealth, a new initiative designed for ultra-high net worth individuals with assets of at least €20 million and an initial client base of 1,500 individuals. The initiative focusses on higher value-added, more personalized services, based on specific client needs. The offering includes traditional and alternative investments and advice on succession planning as well as support for the next generation of clients’ families and businesses through Santander’s partnership with 1,300 universities around the world. 

This service will be delivered by a team of specialised bankers and coordinated through SPB’s unique global relationship model to ensure that both local and international needs of clients are seamlessly managed. 

The initiative will include the deployment of cutting-edge, customized digital tools to track investments and simplify processes.

The new Private Wealth unit is part of the Wealth Management Division created by Santander. Victor Matarranz, head of Wealth Management said, “Our global reach, combined with a strong local presence in our main markets means we are well positioned to become the best wealth manager in Europe and the Americas”. 

Alfonso Castillo, global head of the Private Wealth segment said “I am convinced that the Santander Group, thanks to its global investment banking and asset management capabilities is singularly positioned to offer private banking clients unique services”.

Santander Private Banking, which forms part of the new Wealth Management division created last year serves 170,000 clients in the main markets in which the bank operates. The division had total assets under management of 333 billion euros as at 30 September 2018.