Spain’s Banca March has appointed Jaime Armada as regional director of its wealth management division in Madrid.
Armada joins Banca March from Credit Suisse, where he worked as Credit Suisse AG, Private Banking director – alongside Borja Martos who moved to Deutsche Bank last February – for the past 13 years.
Before working at Credit Suisse, Armada served as a private banker at the wealth management division of UBS from 2001 to 2005. Prior to that, he worked at Commerzbank International as a private banker too.
According to sources of the sector the firm will make further appointments for its wealth management division, which is in process of being strengthened.
Banca March reported its profits from banking activity were up 24.2%, up to €24.3 million in the first quarter of 2018.