Openbank, the digital platform of Spanish bank Santander, has signed an agreement with US asset manager BlackRock to offer five portfolios of third-party funds to customers in Spain. Óscar GiménezLa banca espera cumplir el requisito de productos de terceros para cobrar retrocesiones The deal is part of a broader strategy by Santander and its partners to expand their presence across Europe as they seek to diversify away from traditional retail banking into more riskier areas such as private equity The service will charge no commission to clients beyond those fees charged by the funds themselves.
Openbank, the digital platform of Spanish bank Santander, has signed an agreement with US asset manager BlackRock to offer five portfolios of third-party funds to customers in Spain. The deal is part of a broader strategy by Santander and its partners to expand their presence across Europe as they seek to diversify away from traditional retail banking into more riskier areas such as private equity The service will charge no commission to clients beyond those fees charged by the funds themselves.