Peru's best international private bank 2023: Santander Private Banking
Peru has a modest number of high and ultra-high net-worth individuals compared to the larger markets like Brazil and Argentina. The private banking landscape is correspondingly smaller, but there is still one firm that stands out from its competitors.
Santander Private Banking boasts the largest team of private banking specialists devoted exclusively to Peru; with four bankers and an investment advisor spread between Lima and Arequipa.
The bank secured the award for the best international private bank in the country, and there is no argument about its international credentials. Santander can call on not one but two fully-licensed private banking operations in Miami and Geneva. The bank’s international service revolves around four main platforms: banking and investment services, active investment services, portfolio advisory and discretionary portfolio management. Ultra-high net-worth clients have added the option of custom mandates. Value-added services include real estate advisory, customised structured products and wealth planning.
The bank’s Belcanto Luxembourg-domiciled open-ended investment companies are offered exclusively to high net-worth international private clients, while bespoke investment companies are available for the firm’s ultra-high net-worth clients. The firm’s web of international relationships means it can connect clients with best-in-class managers at preferential terms.
On the tech side, Santander’s data-driven strategy has led it to enlist Bloomberg AIM technology, ESG impact investing tools and various cloud-based business intelligence solutions for client monitoring and analysis. The firm remains focussed on improving the client’s digital experience from onboarding remote identification to an enhanced e-banking app experience with biometric verification.