Santander Private Banking
PO Box 545, 19-21 Commercial Street, St Helier, Jersey, JE4 8XG
www.santanderpb.jeenquiry@santanderpb.jeAbout
Santander Private Banking is located in Jersey, one of the world's major international financial centres. It is a well established and politically stable financial centre, renowned internationally for its high standards of regulation, whilst providing international access to your finances and a central home for your money.
Santander Private Banking is regulated by the Jersey Financial Services Commission to carry on deposit-taking business under the Banking Business (Jersey) Law 1991, investment business under the Finance Services (Jersey) Law 1998 and general insurance mediation business under the Financial Services (Jersey) Law 1998.
Santander Private Banking and Santander UK plc
Santander Private Banking is the registered business name of Abbey National International Limited, which is a wholly owned subsidiary of Santander UK plc.
Santander UK plc operates under the Santander Group’s subsidiary model, operating independently on a standalone basis.
The group’s subsidiary model involves autonomous units, such as Santander UK plc, operating in core markets with each unit being responsible for its own liquidity, funding and capital management on an ongoing basis.
Under the subsidiary model, Santander UK plc primarily generates funding and liquidity through UK retail and corporate deposits, as well as in the financial markets through its own debt programmes and facilities. This funding supports its business activities and liquidity requirements. It does this by relying on the strength of its own balance sheet and profitability and its own network of investors. It does not rely on a guarantee from Banco Santander, S.A. or any other member of the Banco Santander group.
Santander UK plc guarantees all liabilities and obligations in respect of any cash deposits with Santander Private Banking for all clients who have opened their account(s) before 31 March 2014. This guarantee is dependent on the financial standing and solvency of Santander UK plc. This guarantee does not apply for new to bank clients who open their account(s) on or after 31 March 2014.
Santander UK plc is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority in the UK.
Santander UK plc is managed by its own independent FCA/PRA approved board.
PRA capital and liquidity stress tests are passed on a standalone UK basis.
About Banco Santander, a solid, solvent bank, yielding strong results:
Banco Santander has more than 150 years’ experience in banking and has over 102 million clients worldwide. It has a presence in 10 main markets, a business model focused on prudent risk management and has the largest branch network in international banking.1
Banco Santander is the largest bank in the euro zone by market value and one of the largest in the world.1Categories: Banks.
