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As part of the agreement, Santander Private Banking plans to purchase $4.3 billion in client assets and liabilities with related staff from Indosuez Wealth Management.
The transaction is projected to close by the end of the first half of 2021.
Santander Private Banking today announced that it has reached an agreement with Indosuez Wealth Management ( Indosuez ) – the global wealth management brand of Crédit Agricole group – to purchase $4.3 billion in client assets and liabilities. The transaction is subject to regulatory approval and satisfaction of customary closing conditions, and is expected to close by midyear 2021.
Santander Wealth Management & Insurance Global Head Víctor Matarranz said,
Santander : Private Banking to Acquire Indosuez Wealth Management Business in Miami
03/16/2021 | 07:02am EDT
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As part of the agreement, Santander Private Banking plans to purchase $4.3 billion in client assets and liabilities with related staff from Indosuez Wealth Management.
The transaction is projected to close by the end of the first half of 2021.
Santander Private Banking today announced that it has reached an agreement with Indosuez Wealth Management (“Indosuez”) – the global wealth management brand of Crédit Agricole group – to purchase $4.3 billion in client assets and liabilities. The transaction is subject to regulatory approval and satisfaction of customary closing conditions, and is expected to close by midyear 2021.
Santander Private Banking to Acquire Indosuez Wealth Management Business in Miami yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
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BOSTON and DALLAS, Feb. 4, 2021 /PRNewswire/ Santander Holdings USA, Inc. ( SHUSA ) and Santander Consumer USA Holdings Inc. (NYSE:SC) ( SC ), today confirmed that the Board of Governors of the Federal Reserve System has authorized the Federal Reserve Bank of Boston to terminate its Written Agreement dated March 21, 2017, with SHUSA and SC s wholly-owned subsidiary, Santander Consumer USA Inc.
Since 2015, SHUSA and SC have made significant progress in strengthening board oversight, compliance, risk management, capital planning and liquidity risk management. The 2017 Written Agreement required Santander to strengthen risk management across Santander US, and its termination demonstrates the progress Santander has made in recent years. The enhancements made to SHUSA s and SC s risk programs in response to the 2017 Written Agreement are now fully embedded in Santander s US operations.