Alvaro de Torres has been named as the new director of private banking at Spanish Banco Pastor, with the task of transferring the division f...

Alvaro de Torres has been named as the new director of private banking at Spanish Banco Pastor, with the task of transferring the division from Madrid back to group HQ at La Coruña in the north-west of the country. The aim is to take advantage of geographical proximity to other departments, such as commercial and investment banking. With about 40 advisors at present, the private banking unit was opened in 1989, with offices currently in Vigo, Bilbao, Madrid, Barcelona, Seville and Valencia as well as La Coruña, that manage the wealth of more than 4,000 clients with assets of around €2.0 billion ($2.6 billion). According to Mr de Torres, his division is poised to grow throughout Spain. He started his career at Banco Pastor in 1975 and has worked in financial control, treasury and capital markets, among other areas.