Santander Private Banking is a colossus in Latin America, where it won three regional awards this year – best international private bank, best for high-net-worth individuals and best for discretionary portfolio management. We also named it the best international private bank in Uruguay, Peru, Mexico, Argentina, and Brazil.
Total income in private banking in the nine months to the end of September 2024 saw a substantial year-on-year increase, with net new money also ticking up. But this award – a new one unveiled by Euromoney this year – is predicated less on a bank’s strength in any particular market but in its ability to serve wealthy clients across a broad international wealth demography. In this instance, the question is which financial institution is best placed to serve Latin American clients who want to give their family’s wealth portfolio a more international flavour.
Every family has its own set of reasons for doing this.