The name of UK structured products market stalwart Abbey Financial Markets will disappear now that owner Santander has rebranded it Santander Global Banking & Markets following a merger of the two businesses that began last year.
The new division, which will service UK, Europe, the US and Latin America, was created to manage the specialist wholesale banking areas within Santander, integrating access to the international range of cash and derivative products and markets in which Santander operates.
A rebranding statement said the UK will see an increase in the provision of structured solutions, underpinned by its derivatives trading activities. It was unable to expand on this as SRP went to press.
“In the UK we can bring our clients global trading opportunities across the footprint of Santander, and outside of the UK, we can share the risk management and product expertise we have developed in London,” said the unit’s global head of equity Richard Williams, in a statement. “This is a major step for Santander’s global business.”
The bank has a physical presence in financial markets in the UK, Spain, Portugal, USA and across Latin America.
