Santander has decided it'd like a little respect from the investment banking community. While it tried to get somea that not so long ago-- to little success--, it's gonna give it the old college try one more time. Who's with 'em?
Spanish bank Banco Santander is looking to expand its investment bank, primarily by hiring senior investment bankers and bolstering its operations in the U.K. and U.S. While one of the world’s larger lenders, the bank is not traditionally seen as a big player in investment banking. However it is aiming to bring its U.K. and U.S. investment banking businesses up to the same strength as Brazil or Spain, its traditional hubs, according to a person familiar with the bank’s plans...Ana Botín, who succeeded her father Emilio as executivechairman following his death in September last year, previously attempted to build a major investment banking franchise at the bank. She hired 150 equities analysts in Asia in an attempt to build a global investment banking franchise. But the bank lost money in a number of it investment banking operations across Latin American and let go of the staff hired in Asia.
Santander Set To Expand Investment Bank [MoneyBeat]