Rodrigo de Sebastian, formerly head of structured products sales for Southern Europe at Santander in Madrid, has been appointed head of "collaboration revenues" in Spain within the bank's global banking and markets (SGBM) division.
The Collaboration Revenues project is a new venture developed by the bank to combine the capabilities and reach of wholesale banking and comercial banking in the offering and advice across products for the different client segments within the group's divisions.
De Sebastian will be at the helm of the new project which has national reach and will report to Gabriel Alonso, head of SGBM in Spain and globally to Jaime Ybarra, global head of collaboration revenues project.
"My new role is about senior relationships management and makes part of the bank's strategy to leverage its wholesale banking and comercial banking activites at all product levels (structured finance, investments...)," de Sebastian told SRP. "This is a business that is generating over $1bn in revenues and the forecast is that it will grow three-fold within the next few years."
De Sebastian also said that the bank is strengthening its position as a leading provider in the wholesale and commercial space in Spain by setting up a business line structure to move it forward.
"It's a very exciting role which is also widening my responsibilities beyond structured products," he said. "I will continue to be involved with the bank's structured products team as my mandate includes catering for the investment needs of our comercial clients," he said.
SP business
Following de Sebastian's promotion, Santander has split its Spain's structured products team to take advantage of the capabilities of the division from a client perspective. Going forward, Andrés Gonzalez de Cominges, head of institutional sales, Spain at Santander SGBM, will manage institutional clients (fixed income and external structured products) and Michel Lozano, as head of investment products, will look after all investment products for Santander's internal commercial network including retail structured products.
As part of the split, Carmen Rojo, director of structured products, who used to report to de Sebastian, will work closely with Gonzalez de Cominges in serving the institutional side while Pilar Fernandez-Sacristán, another member of de Sebastian's team, is now looking after structured products for the bank's internal network which is managed by Lozano.
In the UK, Mehdi Kadhim remains head of structured products for Northern Europe, reporting to Eusebio Morales, the bank's head of institutional sales for Northern Europe.
Santander reorganised its equity derivatives business in early 2013, shifting the roles and responsibilities of a number of senior executives. Since then the bank organised a geographical framework with each country business operating autonomously and addressing their structuring needs via the bank's structuring desks in Madrid and London, which are which are led by Alfredo Madrigal, head of structuring, Europe (retail and institutional) at Santander.
See also:
Former Santander head of structuring joins Citi
Santander head of equity structuring Brazil departs
Santander enters Brazil COE market, Cetip reports $2bn of notes issued
Santander expands Brazilian business
Santander: The Spanish market has gone almost full circle