Santander llega con Webster a las fortunas de EEUU
El foco de Santander en EEUU continuará siendo los clientes latinoamericanos residentes en el país, pero Webster le permitirá acelerar su objetivo de atender a grandes fortunas locales. Leer
Santander has acquired Webster Bank, a move that will bolster its presence in the United States and redefine its strategy in the country. The acquisition includes more than 3.5 million clients in the US, expanding the bank's reach in traditional banking, which includes private banking. Santander already had a private wealth management business in the US before acquiring Webster, but the bank limited its activities to managing offshore wealth for large Latin American fortunes.
In recent years, Santander has grown this business by hiring private bankers to accelerate the capture of large fortune clients from Latin America looking to diversify their assets outside their countries of residence. Webster's integration will enable Santander to enter the local private banking market. This was a goal Santander had for several years, and the acquisition will allow the bank to carve out a niche among the country's wealthy elite.
Alfonso Castillo, Santander's Global Leader of Private Banking, explained that the acquisition will be the seed that allows the bank to gain scale in the US market. Latin American clients will remain the primary focus of Santander's private banking in the US, leveraging the bank's brand positioning. With the addition of Webster, Santander expects to accelerate its growth plans in wealth management within the next 1.5 to 2 years.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
