Banco Santander has again made a ‘clausulazo’ to CaixaBank, this time, to try to boost the private banking business for the highest net worth. After signing, last September, Víctor Allende, who had managed to boost CaixaBank’s private banking business, the Cantabrian bank is looking for another key piece of the Catalan bank’s business: Sol Moreno de los Ríos, who managed The OpenWealth area, with richer assets, will become part of Santander two years ago.
The arrival of Moreno de los Ríos is a continuation of the signing of Allende, and confirms the interest of the Cantabrian bank to compete in this type of business with OpenWealth, which has managed to rise as the largest multifamily office service in Spain, with more than 7.3 billion euros in assets under supervision.
CaixaBank has moved quickly after the news, and decided to appoint Marta Alonso as the new director of the subsidiary OpenWealth, and thus direct the largest wealth consultancy in Spain by size. Alonso until now headed the independent Private Banking advisory area of the Catalan bank, in addition to holding a position as a director of the manager CaixaBank Wealth Management Luxembourg, the entity’s international private banking subsidiary.
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