Santander reportedly looks to boost investment banking operations with new hires
Spanish bank Santander is onboarding at least 50 new bankers to boost its growth in the investment banking market, according to a report by Reuters.
Santander reportedly planning to expand its investment banking operations
Spain’s largest bank is already an established player within the retail banking fields of Europe and Latin America under chair and former JP Morgan banker Ana Botin.
But now, the bank is seeking to increase its presence in the sphere of investment banking, according to what two sources recently shared with Reuters.
The sources say that Santander has already recruited 20 bankers in the US, adding that news of the hiring spree could emerge in the next few weeks and that new recruits could start as early as next month.
The new hires are expected to be spread across its operations in the US, the UK and Spain.
Many of these new hires are expected to come from Credit Suisse, following reports last month that UBS Group could be looking to cut jobs at the firm following its takeover in March.
The bank’s recent activity and pursuit of investment banking appears to be in accordance with its latest strategy update, which was unveiled in February of this year. In it, Santander outlined its intention to grow its US investment banking business by 20% between 2023 and 2025.
