Santander Targets Ultra-Rich with Exclusive Private Banking Services
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Santander Targets Ultra-Rich with Exclusive Private Banking Services
- Santander's private banking division currently manages 223 billion euros in assets.
- The bank is enhancing its "Altura Signature" value proposition to cater to clients with over 20 million euros in assets.
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Santander is intensifying its focus on ultra-high-net-worth individuals, defined as those with assets exceeding 20 million euros, through a specialized private banking strategy. The bank’s private banking arm currently oversees 223 billion euros in assets. This initiative aims to increase market share among these affluent clients and boost the division’s profitability.
The core of this strategy involves developing a distinct brand, “Altura Signature,” which offers an array of exclusive services and experiences. These specialized offerings go beyond traditional financial products, encompassing areas such as advanced investment solutions, including alternative investments like private equity, credit, and real estate. Santander’s Private Wealth segment, which serves these clients, also provides comprehensive wealth planning, corporate finance, and multi-family office services, with an international presence in 10 countries across Europe and the Americas, including platforms in Switzerland and Miami.
The bank emphasizes a personalized and hands-on approach, leveraging a dedicated team of experienced bankers and specialists to address complex financial situations. This includes tailored solutions for succession planning, strategic investment structuring, and family business governance, demonstrating a commitment to supporting clients’ long-term wealth planning and investment objectives. Santander’s broader Wealth Management & Insurance division is also committed to socially responsible investment, integrating ESG factors into its advisory and portfolio management processes.