Spanish banking group Banco Santander has relocated its London's fund selection team to Madrid in a move aimed at bringing closer the team to the clients, the entity said.
The fund selection team of Santander, headquartered in London since 2012, is called Manager Research and Selection and has been led to the date by José María Martínez-Sanjuán.
Five of the ten members the team has will be now relocated to the Santander's offices in Madrid, split between the firm's private banking unit and its asset management division. The remaining five were already based in Madrid.
Santander UK Manager Research and Selection team was responsible for analysing and selecting the funds of international fund managers that are distributed through the firm's fund of funds and discretionary portfolios.
Santander Asset Management created two different hubs and made some changes to their management boards earlier this year. The firm appointed Lázaro de Lázaro to lead its European team and Luis García to manage the Latin American one. De Lázaro was previously responsible for the Spanish asset management division of Santander, a position held currently by Miguel Ángel Sánchez Lozano.