Abbey Financial Markets is rebranding to Santander Global Banking & Markets following a merger of the two businesses.
The new division is committed to offering clients access to skills, resources and market knowledge beyond the UK and into the rest of Europe, USA and Latin America.
Santander says the new brand name does not affect the legal entity names, the regulatory status or position within the group of any of the companies involved.
SGBM was created to manage the specialist wholesale banking areas within Santander on an integrated basis, to enable customers to gain access to an international range of products in all of the markets in which Santander operates.
It has a physical presence in financial markets including UK, Spain, Portugal, USA and across Latin America with a major presence in Sterling, Dollar and Euro-denominated financial markets.
The UK will see an increase in the provision of structured solutions, underpinned by its derivatives trading activities.
Santander Global Banking & Markets global head of equity Richard Williams says: “This is a major step for Santander’s global business and as a result of this integration we will be able to offer clients access to a very strong platform in cash and derivative equity trading, equities, fixed income and credit right across Santander Global Banking & Markets.”
“In the UK we can bring our clients global trading opportunities across the footprint of Santander, and outside of the UK, we can share the risk management and product expertise we have developed in London.”