Santander reaches US fortunes with Webster
Santander's focus in the US will continue to be on Latin American clients residing in the country, but Webster will allow it to accelerate its goal of serving large local fortunes.
Santander has completed its acquisition of Webster Bank, expanding its presence in the US and allowing it to redefine its strategy in the country. The deal adds over 3.5 million customers and enables Santander to accelerate its goal of serving large local fortunes, in addition to its existing focus on Latin American clients residing in the US.
The acquisition will allow Santander to enter the local private banking business, a segment it has struggled to penetrate until now. With Webster, Santander expects to advance its growth plans in wealth management in the US by one to two years.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
