Grupo Santander is Spain's largest financial group by far, and one of the world's top 20 by value. It is also one of the biggest by global footprint, with 12,230 retail outlets and 125m customers spread across 40 countries. Because of its concentration on retail rather than investment banking, the group successfully sidestepped the credit derivatives crisis which eviscerated so many of its US and European rivals during 2008. Instead, through sure and steady expansion, it has established itself as the largest financial services group in Latin America, and the largest consumer finance business in Europe. It acquired the UK's Abbey in 2004, followed by Sovereign Bank of the US, and got bigger still in 2007 following acquisition of ABN Amro's interests in Latin America. The extraordinary turbulence of 2008 provided several further acquisition opportunities. It strengthened its coverage across Europe with the acquisition of the consumer finance operations of both RBS and GE Money, and bolstered its already extensive domestic position in 2017 with the rescue of failing rival Banco Popular for a nominal sum. Emilio Botin was the architect of the modern group, as well as a descendant of one of families which founded the original Banco Santander in the 19th century to trade with Latin America. He remained chairman until his death in 2014. His daughter Ana Patricia Botin is now executive chairman; Andrea Orcel replaced Jose Antonia Alvarez as CEO in 2018. Gross income for 2016 was €43.9bn, almost 90% of that from traditional retail banking. The three key markets of Brazil, the UK and Spain together contributed over half of profits. See also Santander UK. Adbrands no longer offers a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
Capsule checked 1st August 2017
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Adbrands Account Assignments track account management for the world's leading brands and companies, including details of which advertising agency handles which accounts in which countries for major markets. Adbrands Weekly Update is a weekly summary of the latest news affecting leading advertisers and their advertising and marketing agencies.
Adbrands Weekly Update 27th Sep 2018: Santander announced the appointment of Italian banker Andrea Orcel as its new CEO, replacing Jose Antonio Alvarez, who becomes vice chairman beneath executive chairman and major shareholder Ana Botin. In his current role as head of UBS's investment banking division, Orcel has been a trusted advisor to the Botin family for 20 years.
Adbrands Weekly Update 18th Jan 2018: Ads of the Week: "Piggy". We love the new US campaign for Santander Bank, from Arnold Worldwide, which features some fabulous character design and animation for its central character, a lost piggy bank. It's interesting to contrast the bank's more adventurous marketing in the US and Spain from the rather run-of-the-mill approach it takes in the UK.
Adbrands Weekly Update 22nd Jun 2017: Ads of the Week "Beyond Money". There's a big dose of Black Mirror to this beautifully realised short story commissioned by Banco Santander from MRM/McCann and director Kike Maillo. Money isn't everything, even to a bank. The film delivered McCann's 4th Grand Prix to-date, this time in the new Entertainment category. Settle down in a comfortable chair and indulge yourself for 15 minutes.
Adbrands Weekly Update 8th Jun 2017: Banco Santander strengthened its position as Spain's biggest bank with the rescue of struggling rival Banco Popular for the nominal price of just 1 euro. Popular had already put itself up for auction, but most bidders were frightened off by the potential failure of the bank. Santander plans to raise €7bn in capital from its own shareholders to refinance Popular's balance sheet. The deal will significantly boost Santander's profile among small and medium sized businesses, an area where Popular is considered to be especially strong.
Adbrands Weekly Update 18th Sep 2014: Two of Spain's most respected business leaders died this month, both aged 79. Isidoro Alvarez was responsible for establishing his uncle's department store group El Corte Ingles as the country's single most important retailer and its presiding cultural force over the second half of the 20th century (though its influence has been curbed since 2000 by more internationally focused rival Inditex). He remained chairman and controlling shareholder until his death this week. His successor as chairman has yet to be named. That followed the death a week earlier of Santander chairman Emilio Botin, who transformed a small regional lender into one of the world's biggest banks. He is succeeded as chairman by his daughter Ana Patricia Botin.
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