Atlas Capital: Customized solutions
Founded in 2000, Spanish investment bank Atlas Capital set up its private-banking division in February 2003 and in October 2003, its front-office services began. The team had all previously worked together, though, for 10 years at Morgan Stanley and AB Asesores. Its formation sprang from two developments in Spain: a repeal of capital gains tax and the emergence of back-office platforms for clearing and outsourcing third-party funds and brokerage. In just one year this private-banking platform has made a significant impact in Spain. It currently has €278 million of assets under management with a wide base of 750 clients. It hopes to raise this to €590 million and 1,250 clients in 2005. But its most significant strategy lies in its client target range. "We focus on the main segment of the Spanish market – €300,000 to €1.5 million," says Juan Ramon Caridad, head of business development and product strategy at Atlas Capital. "This is a largely forgotten part of Spain's market."
The group was nominated for best corporate advisory services and Caridad believes that Atlas Capital's family offices services performed well in the Euromoney poll because it can leverage the synergies from the firm's investment banking division and through its connection with Julius Baer.