H1'22 Highlights

€ 395 bn

total assets under management

30 %

total fees generated as % of Group’s total fees

€ 515 mn

underlying attributable profit

€ 1,276 mn

total contribution to Group’s profit

57.1 %

RoTE

€ 395 bn

total assets under management

30 %

total fees generated as % of Group’s total fees

€ 515 mn

underlying attributable profit

€ 1,276 mn

total contribution to Group’s profit

57.1 %

RoTE

About us and our history

Santander Wealth Management & Insurance is a global division of Grupo Santander. It brings together Santander Private Banking, Santander Asset Management and Santander Insurance. Our ambition is to be the best wealth manager in Europe and the Americas, and the best insurance distribution platform, acting responsibly to earn the trust of our clients and their families. Since launching in 2017, the division has grown significantly in the last three years by:

  • using our international presence to create a truly global value proposition;
     
  • innovating products and services to offer a well-rounded proposition that is best suited to manage investments in today’s environment and draws on our capabilities as a leading financial group; and
     
  • digitally transforming all three businesses for more efficient growth and distribution.

SANTANDER PRIVATE BANKING

Santander Private Banking, Banco Santander's global private banking business, serves 200,000 clients. It is prominent in ten markets in Europe and the Americas, where it can assist clients in their home country and abroad on a global platform. In recent years, it has put together a robust investment offering with a special focus on alternative, thematic and sustainable products, in addition to a global value proposition for Private Wealth clients. In 2020, Euromoney named Santander Private Banking “Best Private Bank” in Chile, Mexico, Spain, Portugal and Poland.

SANTANDER ASSET MANAGEMENT

Santander Asset Management is a global asset manager with firm roots in Europe and Latin America. Operating in 11 countries, it manages assets for private and institutional clients, as well as for brokers and Grupo Santander subsidiaries in all its geographies. In the last three years, it has unified its operating platform across regions.

It uses first-rate fundamental analysis and systematic management tools to give each customer the best solution. Its platform in Luxembourg has become a global distribution hub, and its selection of alternative investments, its excellent thematic range and its leadership in sustainable investment in Spain and Latin America set it apart from the rest.

+10 %

Volume of insurance fee income from non-related business vs. H1'21

+17 %

Volume Gross written premiums vs. H1'21

+10 %

Volume of insurance fee income from non-related business vs. H1'21

+17 %

Volume Gross written premiums vs. H1'21

SANTANDER INSURANCE

Santander Insurance aims to become the preferred insurer of the group’s customers. Its complete value proposition guarantees the best customer experience on its digital and personal channels. Though its primary business is life insurance, the main driver of growth in recent years across our geographies has been non-credit related (particularly auto and SME business). Digitalization has made most of the offer available on remote channels.

Acting responsibly

SAM joined

the Net Zero Asset Managers initiative

SAM joined

the Net Zero Asset Managers initiative

The Wealth Management & Insurance Division has made sustainable and responsible investment (SRI) one of its strategic priorities. Its own ESG methodology, which is also used by Private Banking and Insurance, assigns a rating to all its products based on its analysis of more than 15,000 companies and 190 governments.

In early 2021, Santander Asset Management joined the global Net Zero Asset Managers Initiative to achieve net-zero CO2 emissions by 2050. It is the only asset manager in Spain among the initiative’s 73 signatories. 

Strategic priorities

Santander Asset Management

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  • Continue to be the preferred funds partner for our retail network

    - Complete the creation of the global hubs

    - Expand the One Investments model and methodologies

    -  Work to complete the implementation of our digital funds distribution platforms

Santander Insurance

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  • Optimize our customer service by completing our digital proposition using customer data
  • Manage our portfolio to extend policy life
  • Increase customer base penetration

Santander Private Banking

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  • Continue to build our global platform

    - Expand and develop our product and service proposition

    - Deploy the best digital tools
     
  • Renew or improve our top 3 position as Best Global Private Bank according to Euromoney (clients up to USD 250 million)

ESG transversal across our businesses

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  • Offer sustainable investment management in our private banking platform
  • Expand our ESG range to help reach our commitment of EUR 100bn AuM by 2025
  • Work towards our Net Zero commitments
  • Create a sustainable insurance value proposition

 

Víctor Matarranz

Senior Executive Vice President and Head of Wealth Management & Insurance

No results found

Non-IFRS and alternative performance measures 

In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, the information above contains certain financial measures that may constitute alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). Such APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have neither been audited nor reviewed by our auditors. While we believe that these APMs and non-IFRS measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies, including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures.  For further details of the APMs and Non-IFRS Measures used by Banco Santander, S.A. (Banco Santander), as the parent company of Santander Group, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the Banco Santander´s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, as well as the section “Alternative performance measures” of the annex to Banco Santander´s most recent quarterly Financial Report. These documents are available on Banco Santander’s website (www.santander.com). 

The businesses included in each of the Santander Group primary segments and the accounting principles under which their results are presented in such documents may differ from the businesses included and accounting principles applied in the financial information separately prepared and disclosed by its subsidiaries (some of which are publicly listed) which in name or geographical description may seem to correspond to the business areas covered in such Santander Group documentation. Accordingly, the results of operations and trends shown for the Santander Group´s business areas may differ materially from those of such subsidiaries.