Mexico's best international private bank 2023: Santander Private Banking
Two years ago, Santander Private Banking Mexico shifted to a new governance model for wealth management that incorporated Santander Asset Management and Santander Insurance. The goal was to become the best firm for wealth management in Mexico. Looking at pre-tax profits – up by 24% over the period – and the customer base, which is up 33% year-on-year, the move has obviously had an impact.
Santander strives to offer clients a holistic experience that covers all potential private banking needs – from M&A to family advisory. When it comes to investments, the firm aims for a perfect combination of local and global. Santander Mexico employs over 250 bankers and specialists across 17 offices country-wide. Each client has a dedicated team of three specialists - banker, relationship officer and investment consultant.
Santander Go Funds are available through the local asset management arm. A new advisory framework offers investment solutions focused on firms at the forefront of new technology. For ultra-high net-worth individuals, there is open architecture on mutual funds and structured notes.
The bank offers real estate products through co-investment vehicles and private capital funds. The bank has also begun structuring "club deals" to improve customer access to different real estate properties offered by Santander Group at the global level.
Finally, Santander continues to expand its sustainable investment options. Through Santander Asset Management clients have access to two different specialised strategies in addition to tailored impact goals focusing on areas including gender equality, climate change and water scarcity. For all these attributes, the bank was awarded Best International Private Bank - Mexico.