Ahorro Corporación rebrands as Imantia Capital

Following the announcement of Abanca’s takeover last year, Ahorro Corporación Gestión has rebranded as Imantia Capital, the local trade press has reported.

The rebranding is part of the complete revamping of the company.

Juan Luis Vargas-Zúñiga, formerly general director of Capital Market of Abanca, has taken over as president of Imantia Capital.

“Imantia was created as main shareholder, but Abanca’s idea is that there are other shareholders in future to make the manager more independent,” Vargas-Zúñiga says.

According to the president, the project aims at keeping Abanca’s share in the new company below 50%.

The asset manager starts with AUM of €3bn, 39% come from Abanca and 52% come from Ahorro Corporación funds.

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