BS Sports & Entertainment, a unit of
Spanish bank Banco Sabadell (BS), is to provide asset management
advice to top sports people and entertainers in an agreement with
international agency IMG.
BS Sports & Entertainment director Ferran
Martínez said the agreement will enable BS to continue to grow and
consolidate its private banking services for sportspeople in
Spain.
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According to a
PBI special report on sports pros and entertainers,
salaries of sportspeople have grown at a compound rate of 8 percent
a year for the last 40 years making it a fast-growing and virtually
recession-proof segment.
BS Sports & Entertainment and IMG between
them manage a total of 1,500 sportspeople and celebrities.
BS Sports & Entertainment is a business
unit created by Banco Sabadell in 2007. It specialises in offering
advice and private banking financial services and asset management
to top athletes and entertainers.
Banco Urquijo, a subsidiary of Barcelona-based
Banco Sabadell, is estimated to have the fifth-largest private
banking operation in Spain.
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