Banco Santander has incorporated Álvaro Portanet, until now CEO of Barclays Spain, as the new global distribution director for the Corporate and Investment Banking (CIB) area of the group, according to financial sources told Europa Press.
In his new role, Portanet will report hierarchically to Mike Bagguley, the entity's global head of markets since his appointment at the end of August 2022.
Álvaro Portanet has spent seven years leading Barclays Spain, a period to which he arrived after holding several senior management positions at the bank's London headquarters, where he served as distribution director for Iberia and subsequently as general distribution director for Iberia.
In parallel, Banco Santander has taken advantage of this move to add Christian Bauer to its team, coming from Goldman Sachs, where he worked for 19 years in its New York and London offices, with the aim of strengthening the mergers and acquisitions business in Europe.
Likewise, the entity chaired by Ana Botín has hired Stefano Sabbadini from Trafigura as global director of private debt mobilization, who will be under the supervision of Krishna Murali, who will assume the position of global head of fixed income in mid-August.
Banco Santander's investment banking division closed the first quarter of 2026 with profits of 889 million euros, representing an increase of 14.9%, while its gross margin reached 2,384 million, 13.2% more.