Allfunds hits €100bn AUA milestone
Allfunds Bank, the Santander/Intesa Sanpaolo joint venture, has reported its funds platform has hit €100bn in assets under administration.
The milestone comes as the bank gears up for expansion in the UK market, having recently appointed Stephen Mohan from Cofunds to spearhead a London office.
Allfunds is concentrated on the institutional market, and has built up a service offering some 29,000 funds from more than 450 groups.
Juan Alcaraz, Allfunds Bank’s Chief Executive, commented: “We have a hugely scalable business, which offers solutions which closely match our institutional clients’ requirements. While we are busy planning further global expansion, reaching the €100bn milestone offers me the opportunity to thank our clients for helping us reach this position. We couldn’t have done it without their help and support. Their support motivate us to work even harder in the challenges ahead”