MONEY MANAGEMENT

Santander Asset Management names global head of institutional sales

Ileana Salas joined Santander Asset Management as global head of institutional sales, a spokesman said.

The position is new, and Ms. Salas is based in London.

Ms. Salas is responsible for building and leading the money manager's global institutional sales capability and moving the firm into new markets. She is also leading the development of SAM's key relationships with sovereign wealth funds, retirement plans, investment consultants, corporations, insurers, wholesale and family-office clients.

“Developing our institutional business globally is a core part of our strategic growth plans and reflects our overall ambitions to be a global leading provider of investment solutions to clients,” said Juan Alcaraz, global CEO at SAM.

Santander Asset Management has €172 billion ($188.8 billion) in assets under management.

Ms. Salas previously was head of business development and sales for Europe and the Middle East, at Bradesco Asset Management. A spokeswoman for Bradesco said Ms. Salas has not yet been replaced.