Last update: 18/03/2025

This global division comprises Santander Private Banking (SPB), Santander Asset Management (SAM) and Santander Insurance. It’s where we’re driving our clients’ connection to our global product platforms.

We created Santander Wealth Management & Insurance in 2017 to take advantage of the synergy between, and drive up the development of, private banking, asset management, and insurance. Its impressive track record owes to its global scale and reach and vast local knowledge, which enable it to meet its clients’ investment needs. 

As one of the Group’s growth drivers, its profit is constantly growing at double-digit and it accounts for almost a third of the Group’s fee income (including fees ceded to the network). It also works closely with Retail, CIB and other global businesses.

In 2024, it contributed EUR 1,650 million to the Group’s total profit (up 14% year on year), with revenue of EUR 3,661 million. Its assets under management reached an all-time high of some EUR 500,000 million (up 13% year on year), owing to excellent commercial growth in private banking and asset management. 

Moreover, year-on-year profit grew double-digit, backed by strong revenue growth on the back of robust margin management in private banking and double-digit growth in fee income across all businesses. Its total contribution to Group profit¹ climbed 12% year on year. Efficiency increased 2 pp to 35.9% and RoTE soared 7 pp to 78.7%.

1. Includes all fees generated by Santander Asset Management and Insurance, even those ceded to the commercial network.

• Enhance customer experience by offering products and services of greater added value and increasing our footprint in new businesses and markets.
• Drive operational leverage by globalizing product and service centres and factories and bolstering local distribution.
• Develop global platforms to transform our operations and distribution model by harnessing the Group’s data, technology and artificial intelligence.