Santander

Dutch bank ABN AMRO former employees set up their own company in the Netherlands and Britain, called Aethra Asset Management. The new company will service institutional clients and retail investors too. Aethra’s first products will be created by employees who focus on tactical asset allocation and European growth stocks.

According to Reuters the largest bank of Spain Santander has announced today that its Banif property fund has asked stock market regulator CNMV to allow it to suspend payments for up to two years due to the lack of money to pay redemptions. Clients holding 80 percent of the fund, or 2.62 billion euros ($3.34 billion), had asked to redeem their investments by February 13.

"The fund currently lacks liquidity necessary to meet the full payment of the said amount," commented Santander's property division. 

Source: Reuters

Clear2Pay, the international technology provider of next generation payment solutions for financial institutions has signed a contract with Santander, the largest bank in the euro zone and seventh in the world by market capitalization, for the implementation of the Open Payment Framework to enable group bank payments processing.