Banco de Sabadell, Spain's fifth-largest bank by market value, said it has overhauled Banco Urquijo’s strategy following its €760 million acquisition last May with the aim of establishing it as the country's “best private bank”, according to chief executive officer Manuel San Salvador. In the year since acquisition, the Barcelona-based Banco Sabadell has restructured the private bank, integrating its own activities in that area and relaunching the new unit. The new Banco Urquijo has turnover of €14.957 billion, €2.454 billion under management in collective investment vehicles, a client base of 8,670 and 17 branches. Sabadell’s former chief executive Juan Maria Nin, one of the main strategists of the bank's acquisition drive over the last few years, left last month to become managing director at savings bank La Caixa, which until last year was a large Sabadell shareholder.