Santander has announced the acquisition of fixed-income broker Amherst Pierpont, a move that would see Amherst Pierpont absorbed as part of Santander’s Corporate & Investment Banking arm, Santander CIB.
Spain-based Santander believes that this new addition to its existing platform will expand the reach of its operations, enhancing its corporate debt and securities finance services in the U.S. and beyond. across the United States and emerging markets.
“This acquisition is consistent with our customer-focused strategy and our commitment to profitable growth in the USA (…) allowing us to strengthen our relationships with our corporate and institutional clients,” Santander Chairman Ana Botin said in a recent release.
Institutional investors see securities brokerages, or wealth management companies, as a dependable channel of income, primarily because they depend on fixed charges that often remain steady during financially volatile times.
Amherst Pierpont, with 230 employees and 1,300 corporate clients, currently holds the designation of a primary dealer of U.S. Treasuries, issued by the Federal Reserve Bank of New York.
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