Banco Santander to Take Over More BoA Private Banking Assets

Stephen Harris

1 March 2007

Spain’s Banco Santander is to take over management of a further $5 billion of private banking assets and deposits fromBank of America. Last October, Santander agreed to take over $3.5 billion of BofA's private-banking assets and deposits relating to high net-worth individuals in Latin America. The new deal covers private-banking clients in Latin America, Europe and Asia whose accounts are managed in the US.