Santander Private Banking’s ultra-high net-worth segment is called Private Wealth and covers clients who have more than €20 million. The bank has been growing this segment in recent years and it now has more than 100 dedicated bankers and specialists in Latin America.
Unsurprisingly, Santander emphasizes the customised approach that these bankers need to take with this segment: the team creates a tailor-made investment and risk-management plan that is based on the client’s range of investment, investment objectives and risk tolerances. However, at this point the standard model diverges somewhat, and these plans are then scrutinized by local investment teams who analyse the proposed strategy in detail with the objective of suggesting new investment ideas to enhance the anticipated risk-adjusted return.
Santander also has a very ‘high-touch’ approach with Private Wealth clients that emphasizes physical meetings with UHNW clients in their homes and encourages these clients to contact the broader network whenever they wish.
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