The Catalan entity has appointed Adela Martín, from Santander, as the head of Sabadell Urquijo Private Banking. This is the first major hire of the Marc Armengol era.
Banc Sabadell has announced the appointment of Adela Martín as the new head of its private banking division. The executive, who comes from Banco Santander, becomes the first major move in Marc Armengol's tenure as CEO, a position he has held since June.
Martín will take over the direction of Sabadell Urquijo Private Banking, the brand under which the entity serves high-net-worth clients. Her objective will be to position this area as a leader in the sector in Spain, according to the company in a statement.
The new executive replaces Ramón de la Riva, who has led Sabadell's private banking for the past two decades. De la Riva will leave executive functions but will remain linked to the bank, although his new responsibilities have yet to be specified.
Adela Martín holds a degree in Business Sciences from the Complutense University of Madrid and an MBA from the Instituto de Empresa. She began her career at Bankinter, where she spent over 15 years and led the private banking area. In 2015, she joined Santander, where she has been involved in private banking, asset management, and insurance. In her last two years at the entity, she was responsible for the globalisation of Wealth Management & Insurance at Grupo Santander.
Martín will report directly to Carlos Ventura, General Business Director of Sabadell and the bank's number two. Ventura highlighted that “Adela Martín's experience and professionalism, with numerous proven successes, will lead us to build the best private banking proposal in Spain in a short period of time.”
The executive, originally from Vallès Occidental, emphasised that private banking “requires highly specialised support and advice, global investment capabilities, and a comprehensive view of wealth.” He also indicated that in the coming years, the bank expects “significant growth” in the number of clients, the volumes managed, and the contribution of this area to the profit and loss account.
Currently, Sabadell Urquijo Private Banking manages €79 billion for over 145,000 clients, with a team of more than 500 bankers specialised in advising on savings, investment, and financing for high-net-worth individuals. The entity, well-recognised for its work in corporate banking, is now looking to relaunch an area reserved for clients with assets starting from €500,000.
Martín's appointment is part of Marc Armengol's strategy, who already indicated upon taking office that private banking would be one of the bank's priorities. The executive will join in the coming months, and her arrival reinforces Sabadell's commitment to this segment, in a context of increasing competition among entities to attract high-net-worth clients.
For current and potential clients of Sabadell Urquijo, Martín's arrival signifies the continuity of a specialised service, but with the ambition to expand the portfolio and improve the product and advisory offering. The bank has not detailed immediate changes in structure or teams, although it is expected that in the coming months, the lines of work that the new head will promote will be specified.
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