About Santander Private Banking in Jersey
Santander Private Banking is located in Jersey, one of the world's leading 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 money1. For more information please click here www.jerseyfsc.org and www.jerseyfinance.je
Santander Private Banking is regulated by the Jersey Financial Services Commission to carry on deposit-taking business under the Banking Business (Jersey) Law 1991.
Santander UK plc, Jersey Branch
Santander Private Banking in Jersey is a branch of Santander UK plc and part of the Santander UK Wealth Management Division.
Santander UK’s vision is to help people and businesses prosper, through simple, personal and fair banking2. Santander UK is one of the UK’s leading personal financial services companies and one of the largest providers of mortgages and savings in the UK. It is also a growing participant in the corporate banking market3. Click here to find out further information about Santander UK.
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 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 117 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 banking3.
Banco Santander is the largest bank in the euro zone by market value and one of the largest in the world4.
1jerseyfinance.je/jersey-the-international-finance-centre (correct as July 2015)
2santander.co.uk/uk/about-santander-uk/about-us/our-strategy (correct as at July 2015)
3santander.co.uk/uk/about-santander-uk/our-business (correct as at July 2015)
4Santander Annual Report 2014.