Abbey for Intermediaries managing director Miguel Sard is taking on the additional role of managing director of private bank Cater Allen.
Santander owned Cater Allen offers a range of products through brokers, including savings accounts, fixed term deposits, structured deposits and current accounts.
The private bank’s roots date back to 1816, the year after the Battle of Waterloo, when it was set up by the Cunliffe family. Over a century and several acquisitions later an amalgamation of companies was formed that by 1981 was known as Cater Allen.
During the 1980s it was primarily a wholesale bank but following the acquisition of Tyndall Bank in 1994 it massively expanded its private bank side. Bought by Abbey in 1997, Cater Allen was part of the companies Santander took control of when it bought the UK bank in 2004.
Sard says: “The intermediary channel is strategically very important to Santander and is a key channel for our business.
“We have made it clear that going forward we want to distribute more products through intermediaries, putting the customer and the distribution channel at the very heart of the relationship, and bringing our two intermediary brands together under the same management supports this goal.
“We are committed to developing and strengthening the relationships we have with intermediaries across the market, and we will be working hard to continue to support our intermediary partners with great products and service.”