Santander is currently experiencing an overhaul of its Private Banking division. Amongst the most important changes is Alvaro Morales’ promotion to Head of Santader's Global Private Banking team. He will continue to be based out of Miami, where up until now, he served as Head of Santander International Private Banking.
According to an internal memo by Angel Rivera, Head of Retail and Commercial Banking for Banco Santander, to which Funds Society had access, “The Retail and Commercial Banking division will also play a central role in the development of the Group’s Private Banking business, in the direct management of International Private Banking and in the support given to domestic private banks in the various geographies, taking greater advantage of the synergies of our international platform and all of the countries.”
The aim, according to the memo, is to continue improving the specialization of Santander Private Banking’s advisory service model with a segmented offer and a personalized specialist service model that provides each customer tailored solutions.
Morales has been working close to Santander since 1999 when he joined the group as Regional Director for Banco Banif. In 2007 he moved to London to run the UK’s Private Banking business of the bank. By 2009 he became Head of Santander International Private Banking and moved to Miami.
Carlos Díaz will remain in charge of products and market intelligence and will work with Álvaro in managing this unit. Blanca Vilallonga will now will be responsible for coordinating the division's activities, implementing new ways of working, monitoring projects, ensuring compliance with work plans and measuring the impact they have on the organization.
Through the same internal memo Rivera signaled the following appointments:
Angel Rivera will directly assume leadership of Digital Transformation coordinating with the area of Innovation and with each country. It is a shared responsibility throughout the Group. Alberto Fernández Tomé will lead the Digital Solutions team, and Julián Colombo will continue to head the CRM and Business Intelligence team.
Fernando Lardies will be in charge of the new Network Banking project, wheras Javier Castrillo will be in charge of the Commercial Strategy and Best Practices team which includes:
- Ignacio Narvarte who will be in charge of Means of Payment (issuing and acquiring).
- Francisco del Cura who will remain in charge of Insurance
- Frederico Bastos who will remain in charge of Businesses
- Ignacio Gomez-Llano who will remain in charge of Quality and Customer Satisfaction
The memo also included Rivera’s appreciation to Gonzalo Algorri, former group director of Global Private Banking Santander, "for his contribution to the development of the Private Banking business and to all our colleagues who have left the Bank in recent weeks, for their contributions.”