FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April, 2015
Commission File Number: 001-12518
Banco Santander, S.A.
(Exact name of registrant as specified in its charter)
Ciudad Grupo Santander
28660 Boadilla del Monte (Madrid) Spain
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes No X
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes No X
Banco Santander, S.A.
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Press Release dated April 23, 2015 titled Santander Asset Management and Pioneer Investments to join forces to create a leading global asset manager in Europe and Latin America |
Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email:[email protected] www.santander.com - Twitter: @bancosantander |
The agreement foresees the creation of a new company into which the local asset managers of Santander Asset Management and Pioneer will be incorporated. Santander will have a direct 33.3% stake in the new company, UniCredit a 33.3% stake, and private equity fund managers Warburg Pincus and General Atlantic will share a 33.3% stake. Pioneer´s operations in the United States will not be included in the new company but will be owned by UniCredit (50%) and Warburg Pincus and General Atlantic (50%).
Juan Alcaraz, current CEO of Santander Asset Management, will be the Chief Executive Officer of the new company and Giordano Lombardo, current CEO and CIO of Pioneer Investment, will be the Chief Investment Officer of the new company.
The transaction values Santander Asset Management at 2.6 billion and Pioneer Investment at 2.75 billion. Warburg Pincus and General Atlantic will make an additional equity investment into the company as part of the transaction. This transaction will not have any material impact in the Santander Groups capital. Following the signing of the preliminary agreement, the parties will work towards signing a definitive and legally binding agreement which will be subject to the customary regulatory and corporate approvals.
Santander Asset Management
Santander Asset Management is an independent and global asset manager with strong local roots in Europe and Latin America. With a presence in 11 countries, it has assets of 172.5 billion across all types of investment vehicles, from investment funds and pension plans to institutional mandates. Santander Asset Managements investment solutions include specialised mandates in European and Latin American fixed and variable income.
Santander Asset Management has over 755 employees worldwide, of which around 220 are investment professionals with over ten years of experience in asset management. Its investment process, the analytical capabilities of local teams and strict risk control facilitate an in-depth knowledge of market opportunities as well as the varying needs of its customers, and are a distinguishing feature of Santander Asset Management.
Pioneer Investments
Pioneer is a leading independent global asset manager with a presence in 28 countries and an experienced team of over 2,000 employees, including more than 350 investment professionals. Pioneer is known internationally as one of the leading fixed income managers across all strategies, and offers strong capabilities in European, US and global equities, as well as multi-asset and outcome-oriented, non-traditional products.
Pioneer manages 225 billion in assets, evenly split between proprietary distribution via UniCredit on one side, and intermediary and institutional clients globally on the other. In 2014, Pioneer had over 13 billion global net sales, and ranked among the top 5 highest selling asset managers in Europe and 10th worldwide.
Comunicación Externa. | ||||||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email:[email protected] www.santander.com - Twitter: @bancosantander |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Banco Santander, S.A. | ||||||
Date: April 23, 2015 | By: | /s/ José García Cantera | ||||
Name: José García Cantera | ||||||
Title: Chief Financial Officer |