Luis Garcia-Izquierdo was appointed CEO of Santander Asset Management's new alternative assets manager, according to a Monday news release.
Mr. Garcia-Izquierdo said in the release that the new asset manager will seek to help institutional investors add alternatives to their portfolios in order to help them reduce risks associated with inflation and market uncertainty.
Santander AM, which has €195 billion ($214.8 billion) in assets under management, currently manages 22 investment funds with over €2 billion in alternative assets across trade finance, direct lending, infrastructure and renewable energy, venture capital and real estate.
The new manager was authorized by the Spanish securities markets regulator CNMV.
Mr. Garcia-Izquierdo was Santander AM's global head of the alternative investment business before his appointment.