Banco Santander signs David Miller, former co-head of investment banking at Credit Suisse

2023-11-06 19:55:47

Banco Santander, chaired by Ana Botínis advancing its objective of strengthening its investment banking business, and in this sense, last week it signed David Miller, former co-director of investment banking at Credit Suisse until its absorption by UBS.

David Miller, together with Michael Ebert, led the Swiss bank’s capital markets business until June 2023, when Credit Suisse was acquired by UBS. At that time, Miller left the entity and Ebert became solely responsible for investment banking.

Along with Miller, the bank’s chief financial officer, Dixit Joshi, chief legal officer, Markus Diethelm, and co-head of markets, Ken Pang, also left Credit Suisse.

Last October, Ana Botínthe president of Santander Bankpointed out in an interview that the entity intends to invest 250 million dollars (238 million euros) in the next two years to strengthen its subsidiary Corporate & Investment Banking, which encompasses the entire global investment banking business of Banco Santander.

So far in 2023 alone, Banco Santander has signed more than 100 investment bankers in the United States, and more than half came from Credit Suisse.

Santander Bank wants, in the three-year period 2023-2025, to take advantage of the dimension of its global businesses on different fronts. Thus, in the investment banking area, it expects to increase its income each year by 15% in North America, achieving a global return on assets (RoTE) above 20%.