The Spanish independent financial group Rentamarkets has entered the retail business through the acquisition of the retail client portfolio of Ahorro Corporación Financiera, a financial company based in Madrid.
The operation will enable Rentamarkets to increase its current portfolio -of up to 400 institutional clients- while raising its assets under management from 200 to 700 million.
Those retail investors now belonging to the portfolio acquired by Rentamarkets, will remain operating under the same conditions they have enjoyed so far, while Rentamarkets has echoed its commitment to further develop itself technologically in order to widen the services provided to clients.
In this respect, Rentamarkets has reached a strategic agreement with Saxo Bank for the launch of a multi-product platform, which will enable retail investors to operate in international markets, with access to both traditional and alternative products.
Emilio Botín O’Shea, founding partner and president of Rentamarkets, said: “We believe that transferring institutional products of good quality to retail clients is something very attractive for the market.”