The service will provide advice and products within banking, lending, investment and financial planning, with clients given access to a dedicated private banker.
Customers will also be able to use Santander’s online banking services and receive support from its specialist contact centre.
A report by the Financial Times said that the bank will employ 40 specialist managers across the country. It added that the move is part of a drive by the lender to grow its face-to-face advice service.
Islay Robinson, CEO at Enness Private Clients, said: “We have been eagerly waiting for Santander to launch their private banking proposition and look forward to seeing the details. They have been refining their proposition for quite some time and have hired some big industry names to support their efforts.
“Although Santander is yet to elaborate on their criteria, we expect this service to attract a whole new client base. They have identified a large gap in the market – in recent years the high street has adopted a one-size-fits-all approach to lending, and there is a real need for more flexible, common sense policies like this.”
