Santander Names Garcia-Carranza as Head of Wealth and Insurance

Banco Santander SA has named Javier Garcia-Carranza as the new global head of its wealth management and insurance division, replacing Victor Matarranz.

Investment platforms and corporate investments, which Garcia-Carranza used to head in his previous role, will be integrated into the wealth and insurance division, a spokesman said. Matarranz will stay on at the Spanish lender.

Reuters reported the changes earlier.

Wealth and insurance, which includes private banking and asset management, is one of the five global divisions that the bank has created to organize itself better by business areas rather than by geography. The unit reported net income ...