Spain’s Santander Asset Management has appointed Ángel Lara as head of absolute return and alternative strategies.
Lara, who worked previously as fund selector for Banco Sabadell, formaly joined Santander AM on 26 July and will be based in Madrid.
Lara will report to José María Martínez-Sanjuán, who is head of Manager Research and Selection at Santander’s asset management unit.
Prior to Santander, Lara worked at Banco Sabadell for almost ten years. He was head of Hedge Fund at the fund selection team.
Martínez-Sanjuán told InvestmentEurope recently Santander AM started to cover passive funds, while the alternatives team focused to cover pure alternatives or absolute return strategies.
“We want the team to focus only on absolute return and alternatives because there’s a lot of demand and interest in that area,” he said.
In May, it emerged that SAM made two new appointments within its selection team.
Wee-Tsen Lee joined Santander from Barclays Wealth in April to be responsible for manager selection global & US equities. In addition, Pryesh Emrith was promoted within Santander in March, to be in charge of US & global fixed income and multi-asset.
SAM manages around €20bn as an asset manager, and a further €20bn are assets under advice. The firm advised a further €8bn for institutional clients.