Spanish bank Santander is planning to expand its investment banking operations and is onboarding at least 50 new bankers in the US, the UK, and Spain. The bank aims to increase its presence in the investment banking market as part of its strategy to grow its US investment banking business by 20% between 2023 and 2025.
Facts
- Santander is onboarding at least 50 new bankers to boost its growth in the investment banking market.
- The bank is seeking to increase its presence in the sphere of investment banking and has already recruited 20 bankers in the US.
- Santander is an established player within the retail banking fields of Europe and Latin America under the leadership of chair and former JP Morgan banker Ana Botin.
- The new hires are expected to be spread across its operations in the US, the UK, and Spain.
- Many of the new hires are expected to come from Credit Suisse, following reports of possible job cuts at the firm after its takeover in March by UBS Group.
- Santander aims to grow its US investment banking business by 20% between 2023 and 2025, as per its latest strategy update unveiled in February of this year.
