Santander Asset Management, LLC (Guaynabo)

Santander Asset Management, LLC is a large advisory firm based in Guaynabo. It manages $1.35 billion of regulatory assets for 36 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdiction of Puerto Rico.

Santander Asset Management provides portfolio management for businesses and institutional clients, selection of other advisers, and portfolio management for puerto rico investment companies & sub-advisor to santander sicav. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Santander Asset Management: assets under management

The assets under management (AUM) of Santander Asset Management, LLC is $1.35 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -67% since the beginning of its operation, and $128.44 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.35 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $37.37 million each.

Santander Asset Management has custody of $1.03 billion in cash and securities for 12 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in state and local bonds the most. They account for 37% of the total AUM. The second-largest asset type is other assets, which make up 25% of the firm’s portfolio. Investments in government bonds form 22% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Santander Asset Management, LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Fernando Luis Batlle Hernaiz serves?

The firm provides services to corporations or other businesses and state or municipal government entities. The largest group of clients of Fernando Luis Batlle Hernaiz is corporations or other businesses with 13 clients and $1.03 billion of assets under management. Among the 12 most similar advisory firms, Santander Asset Management has the highest percentage of corporations or other businesses out of all clients.

The amount of regulatory assets under management is $1.21 billion for 16 clients. 10% of the firm’s clients are foreign persons or businesses.

Santander Asset Management doesn't advise any private funds.

Careers at Santander Asset Management, LLC

The company employs 20 people that are either part- or full-time employees. 20 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Fernando Luis Batlle Hernaiz has been acting as President since 1 Aug 2011. Fredy Pedro Molfino joined the executive team most recently as the Elected Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Santander Securities	Sole shareholder	1 Aug 1999	75% - 100%	41791
Dennis Rhys Williams	Senior vice president and director	1 Jan 2004	Other	2422900
Frank J. Serra	President and ceo, director	1 Oct 2008	Other	4636323
Frank J Serra Cardona	President and ceo, elected manager	1 Oct 2008	Other	4636323
Luis Ramon Roig	Chief financial officer, treasurer and director	1 Oct 2010	Other	2814642
Fernando Luis Batlle Hernaiz	Director	1 Aug 2011	Other	5959106
Roman Blanco	Chairman of the board of directors	1 Aug 2012	Other	6138302
Lawrence Andrew Carter	Chief compliance officer	1 Mar 2013	Other	2113682
Inc. Sam Puerto Rico Holdings	Holding company	1 Dec 2013	75% - 100%	66-0811865
Fredy Molfino	Director	1 Dec 2013	Other	6291170
Omara Mendez Bernard	Chief compliance officer	1 Jan 2014	Other	6119639
Jessica M Colon Soto	Chief financial officer; director	1 Jan 2014	Other	4826668
Dennis Rhys Williams Colon	Cio, director	1 May 2014	Other	2422900
Dennis Rhys Williams	Cio, elected manager	1 May 2014	Other	2422900
Sam Investment Holdings Limited	Owner	1 Dec 2014	75% - 100%	foreign entity
Daniela Garciaconde	Chief risk officer	1 Jun 2015	Other	5998546
Frank J Serra Cardona	Interim chief compliance officer	1 Sep 2017	Other	4636323
Ana Rosa Suarez Pesante	Chief compliance officer	1 Dec 2017	Other	2663475
Santander Bancorp	Member	1 Jul 2018	75% - 100%	66-0573723
Fredy Pedro Molfino	Elected member	1 Aug 2018	Other	6291170

Indirect Owners

The SEC currently registers 18 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Sherbrooke Acquisition Holdings Corp Spc	Shareholder	1 May 2013	75% - 100%	98-1141646
L.P. Warburg Pincus (Europa) Private Equity Xi (Cayman)	Limited partner	1 May 2013	25% - 50%	98-1064838
L.P. Warburg Pincus (Callisto) Private Equity Xi (Cayman)	Limited partner	1 May 2013	75% - 100%	98-1054390
L.P. Warburg Pincus (Callisto) Private Equity Xi (Cayman)	Limited partner	1 Jul 2013	75% - 100%	98-1054390
Wppe (Callisto Sam) Xi (Cayman) L.P.	Limite partner	1 Nov 2013	25% - 50%	98-1119557
Sam Uk Investment Holdings Limited	Shareholder	1 Dec 2013	50% - 75%	foreign entity
Banco Santander S.A.	Shareholder	1 Dec 2013	75% - 100%	foreign entity
Sherbrooke Acquisition Corp Spc	Shareholder	1 Dec 2013	50% - 75%	98-1123492
L.P. Wp (Io) Xi (Cayman)	Shareholder	1 Dec 2013	25% - 50%	98-1065565
General Atlantic (Sam) (Bermuda) Limited	Shareholder	1 Dec 2013	25% - 50%	80-0879112
L.P. General Atlantic (Sam) Interholdco (Bermuda)	Shareholder	1 Dec 2013	75% - 100%	98-1130940
L.P. General Atlantic Partners (Bermuda) Iii	Shareholder	1 Dec 2013	75% - 100%	98-1130963
Sam Investment Holdings Limited (Jersey)	Sole shareholder	1 Dec 2013	75% - 100%	foreign entity
Sherbrooke Acquisition Holdings Corp Spc	Shareholder	1 Dec 2013	75% - 100%	foreign entity
Warburg Pincus (Jupiter) Xi (Cayman) L.P.	General partner	1 Dec 2013	Other	foreign entity
Wppe (Callisto Sam) Xi (Cayman) L.P.	Shareholder	1 Dec 2013	25% - 50%	foreign entity
L.P. Warburg Pincus (Europa) Private Equity Xi (Cayman)	Shareholder	1 Dec 2013	75% - 100%	foreign entity
Inc. Santander Holding Usa	Member	1 Jul 2018	75% - 100%	23-2453088

Based in Guaynabo

The principal office where Santander Asset Management, LLC performs its advisory services is located at Gam Tower 2 Tabonuco Street, Guaynabo, PR 00968, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 787-759-5340 or by fax 787-296-5435. The normal business hours are 8:30-5:30 on Monday - Friday.