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April 28, 2010updated 04 Apr 2017 3:54pm

Banco Sabadell to advise sports stars with IMG

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 Martnez said the agreement will enable BS to continue to grow and consolidate its private banking services for sportspeople in Spain.

By PBI Editorial

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.

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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