Santander’s investment bank flexes its muscles

The past year has shown how building a corporate and investment bank more equivalent to its standing in retail could be a vital prop to Santander’s earnings, especially in Europe. Does divisional head José Maria Linares now have the backing to match his ambitions?

There’s still barely any sign of life in Banco Santander’s once buzzing London headquarters, almost a year and a half since the bank first sent staff home. The lights are off, chairs upturned. The office coffee shop lies idle and empty, while the traffic outside roars by.

But the view from Santander’s lobby is deceptive. Unseen on the floors upstairs, traders are back and business is booming. When José Maria Linares steps into a suitably socially distanced meeting room to meet Euromoney, it seems he has been itching to get back into the office.

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