José María Martínez-Sanjuán, who was leading Santander's UK-based fund selection team till June, is now joining the firm's global private banking division in Madrid as a fund selector, Funds People has revealed.
The Spanish banking group relocated its UK-based fund selection team to Madrid in June with the aim of bringing closer the team to the clients, the entity said.
Martínez-Sanjuán had been leading Santander's fund selection team in London until it was relocated to Madrid in June in a move that according to Santander aimed to bring the team closer to the clients.
The relocation implied that five of the ten members the team had were relocated to the Santander's offices in Madrid, split between the firm's private banking unit and its asset management division, both part of the unit Santander Wealth Management. The remaining five were already based in Madrid.
This unit, called Manager Research and Selection, had been headquartered in UK's capital since 2012 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.