The Andbank Group, which specialises in private banking, has named Manuel San Salvador as the group’s new head of corporate operations. San Salvador will remain as a director of the Luxembourg entity as well as of other boards of other entities of the group.
This new appointment strengthens the Entity’s commitment to hiring and promoting professionals who have a wide international professional career and a high level of specialisation in the financial sector. In the last year the Group has taken on professionals like Jorge Maortua, former head of markets and wholesale banking at Santander, as a director of the group, and Antonio Castro, former CEO of Barclays as general director of corporate services of the Andbank Group.
The entity is strengthening its corporate M&A area to analyse possible operations that could contribute to the organic growth of the entity worldwide. In recent years the bank has performed important operations like the purchase of the private banking area of Inversis Banco in Spain and the purchase of the fund manager Sigma Investment House in Israel.
San Salvador will leave his position of CEO in the Andbank subsidiary in Luxembourg to concentrate on this new activity. San Salvador will remain on the board of the Luxembourg entity and will join the boards of other jurisdictions.
San Salvador has over 30 years’ experience in private banking, and in his professional career he has headed a number of specialist private banking entities in different countries.
Before he joined Andbank, San Salvador was head of Lazard Wealth Management in Spain, CEO of Banco Urquijo and head of Merrill Lynch Private Banking. He was the Europe head of Barclays Private Bank and joint CEO of the Swiss subsidiary of Barclays Bank in Geneva.
San Salvador will be replaced at the top of Andbank Luxembourg by Gabriel Uriel Levcovich, who joined the Andbank Group in 2014 from Banque Hapoalim. In Andbank he contributed to the successful purchase and growth of Sigma Investment House, an Israeli fund manager specialising in 4 areas: investment funds, portfolio management, consultancy in pension funds and wealth management.
In his new position as CEO of Andbank Luxembourg, one of his main challenges will be the opening of international private banking in the Israeli market.
In the words of Ricard Tubau, general director of the Andbank Group, “Manuel has done a great job as the head of Andbank Luxembourg, consolidating the international business in more than three billion euros of assets under management and consolidating a great team of close to 100 people. Now, it is strategic for the Entity to use Manuel’s experience in a key area for the future of the group: corporate operations.”