Banco Sabadell has appointed Adela Martín, previously an executive at Santander, as the new head of its private banking division, Sabadell Urquijo Banca Privada, which manages €79 billion.
Banco Sabadell has announced the addition of Adela Martín as the new director of its private banking division, a move that strengthens the bank's commitment to high-net-worth clients. The executive comes from Santander, where she was responsible for the globalisation of the Wealth Management & Insurance division.
Martín will report directly to Carlos Ventura, executive advisor and general business director, one of the figures who has gained prominence in the bank's restructuring following the departure of the former CEO, César González-Bueno. The appointment occurs under the leadership of Marc Armengol, the new CEO of the institution.
The division she will lead, Sabadell Urquijo Banca Privada, manages €79 billion in assets and has a portfolio of 145,000 clients. To provide service, it has a team of over 500 bankers specialised in savings and investment financing for high-net-worth individuals.
With this addition, Banco Sabadell aims to enhance a growing business area that brings in high-value clients. The entity led by Josep Oliu has set the goal of becoming the best bank in Spain in relation to its clients, and private banking is key to that strategy.
Adela Martín holds a degree in Business Sciences from the Complutense University of Madrid and an MBA from the Instituto de Empresa. Before her time at Santander, she worked for 15 years at Bankinter, where she also led private banking.
Martín replaces Ramón de la Riba, who will remain at the bank but without executive functions. The transition occurs in a context of intense mobility of executives in the private banking sector.
The entity based in Sant Cugat del Vallès thus strengthens its management team in a strategic area. Private banking is one of the most profitable segments for financial institutions, and attracting talent is key to competing in an increasingly concentrated market.
Martín's appointment is part of a new phase for Banco Sabadell under the direction of Marc Armengol, who took over as CEO after César González-Bueno's departure. The institution has embarked on an internal reorganisation to gain efficiency and focus on business with clients.
With €79 billion under management, Sabadell Urquijo Banca Privada is one of the most important divisions of the group. The arrival of an executive with experience from Santander and Bankinter brings an external perspective that can help drive growth in this segment.
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