Santander prepares $250mn expansion of investment bank

Santander has set aside $250mn to turbocharge the expansion of its corporate and investment bank over the next two years, as rivals on Wall Street prepare for some of the biggest job cuts since the financial crisis. The Spanish lender, which is not an investment banking heavyweight, has hired more than 100 mostly US-based bankers this year, with about half coming from Credit Suisse, which was rescued by its rival UBS in March.

“It’s mostly a corporate bank and we are now adding the fee business, focusing on areas where we are strong like renewables and infrastructure.” She added: “We already provide financing, but if we want to deepen client relationships, we need to give them access to dollar markets, strategic advice, access to capital markets and structured transactions.” The bank has also been growing other parts of its global business, including in wealth management and payments.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bond market rout supports ECB pause, says Spanish central bank chiefPablo Hernández de Cos says higher borrowing costs underline governments’ need to reduce deficits next year
La source: FT - 🏆 113. / 51 Lire la suite »

Santander prepares $250mn expansion of investment bankSpanish lender has embarked on aggressive hiring plan as US rivals prepare for job cuts
La source: FT - 🏆 113. / 51 Lire la suite »