Banco Sabadell has decided to reorient its private banking business and concentrate on customised services for customers by integrating Banco Urquijo's network with Sabadell's own private banking business to create a single division under the Sabadell Urquijo Banca Privada brand. With 20,000 customers and over 24 billion euro in total business volume, the new private banking division will be a leader in the segment in Spain. Ismael Picón, currently General Director of Banco Urquijo, will head this new division.
This strategic initiative seeks to enhance the group's commercial performance, reinforcing Banco Sabadell's position as a leader in advisory and management services for high net worth individuals in Spain, and leveraging the synergies generated by reducing structural complexity.
Ramón de la Riva, Deputy General Director of Banco Sabadell and Director of Markets and Private Banking: "The integration of Banco Urquijo and Sabadell's Private Banking business will enable us to unify and capitalise on our ability to sell services, develop new products and serve customers by improving our value proposition and increasing overall operating efficiency."
In the photograph, Ismael Picón.
