New services include value-added investment products and solutions within traditional and alternative investments, such as, private equity, infrastructure, private debt and real estate

Santander launches new initiative for ultra-high net worth clients. Source: shutterstock.com

Santander Private Banking announced the launch of Private Wealth, a new initiative designed for ultra-high net worth individuals with assets of at least 20 million euros 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.

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.

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.

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