Since the creation of Spain’s first management division forty-five years ago, Santander Asset Management has increased its international presence, focusing primarily on Europe and Latin America.
Banco Santander’s first asset manager was created in Spain. Known as Gesbansander, it initially administered Banserfond, an equities fund, and subsequently incorporated the fixed income fund, Banserfond II.
The Santander Group’s asset managers (Gesbansander, Banesto Gestión, and BSN Gestión), were integrated into a single entity: Santander Gestión.
Like the Spanish parent companies, the management divisions of Banco Santander and Banco Central Hispano merged to create Santander Central Hispano Gestión, with €73 billion under management.
The strategic acquisitions undertaken by the Santander Group in Latin America increased Santander’s international presence in the asset management sector, with fund managers in Chile, Brazil, Mexico, Argentina and Colombia.
Two years after Banco Santander’s acquisition of the British bank Abbey National, Santander Asset Management UK was created, as a result of the integration of various asset managers from Abbey National Bank.
With Banco Santander’s acquisition of ABN Amro in Brazil, the asset management firms of both entities were merged and Santander Asset Management Brazil was formed.
With Banco Santander’s acquisition of Bank Zachodni WBK in Poland, Santander Asset Management added Poland’s third largest firm BZ WBK TFI & AM, in terms of assets under management, to its international structure.
Santander Asset Management Germany launched.
Santander Asset Management became 50% owned by Banco Santander and 50% owned by Warburg Pincus and General Atlantic. This ownership agreement presented a strong boost for the asset management business, improving both the global and local investment capabilities as well as service quality.
Banco Santander reached an agreement with Warburg Pincus and General Atlantic to acquire their 50% share in Santander Asset Management, bringing the business back to 100% ownership of the Group.