Santander to Transfer Part of Investment Bank From London to Madrid -Expansion
January 17 2018 - 2:32AM
Dow Jones News
--Santander will reduce the capitalization of its British
investment-banking business by GBP2.3 billion, as a preliminary
step toward transferring these activities to other divisions in the
U.K. and in Spain, newspaper Expansion says, citing unnamed sources
at Santander U.K.
--According to Expansion, the operation will leave Santander's
U.K. wholesale-banking division--Abbey National Treasury
Services--with capital of around GBP250 million.
--Abbey National's operations with small businesses will be
transferred to the U.K. SME division, while the global markets and
large multinationals business will be folded in to Santander
Spain's subsidiary in London, says Expansion.
--Santander says the move won't lead to job transfers nor impact
the bank's capital ratio, and it expects to complete the
restructuring by July, according to Expansion's sources.
Full story in Spanish: http://bit.ly/2mMGKbo
Write to Barcelona editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
January 17, 2018 03:17 ET (08:17 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Banco Santander (NYSE:STD)
Historical Stock Chart
From Apr 2024 to May 2024
Banco Santander (NYSE:STD)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Banco Santander, S.A. Sponsored Adr (Spain) (New York Stock Exchange): 0 recent articles
More Banco Santander, S.A. Sponsored Adr (Spain) News Articles