09:16 AM EDT, 10/07/2024 (MT Newswires) -- Banco Santander (SAN) is reorganizing the leadership of its wealth management and insurance division under new boss Javier Garcia-Carranza, Bloomberg reported Monday, citing an internal memo.

Spain's biggest bank will combine its alternative investments and investment platforms, which will be integrated into asset management under Carlos Manzano, Bloomberg reported.

Marcos Fernandez will serve as chief operating officer of the division and Antonio Faz will be head of legal. The bank named Jaime Rodriguez Andrade to launch the new Santander Retirement Services business, the report said.

Santander did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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