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July 16, 2021

Santander to buy fixed-income broker dealer Amherst Pierpont

By Verdict Staff

Santander Holdings, the US holding company of Banco Santander, has reached an agreement to acquire independent fixed-income broker dealer Amherst Pierpont Securities.

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Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The deal, which is valued at approximately $600m (€500m), was carried out through the acquisition of Amherst Pierpont’s parent holding company Pierpont Capital.

Amherst Pierpont specialises in premier fixed-income and structured product franchise.

In 2019, the firm was designated as a primary dealer of US Treasuries by the Federal Reserve Bank of New York. It is currently one among the only three non-banks to hold that designation.

Amherst Pierpont has approximately 230 employees serving over 1,300 active institutional clients from its headquarters in New York and offices in Chicago, San Francisco, Austin, other US locations and Hong Kong.

Following the transaction, Amherst Pierpont will be part of Santander Corporate & Investment Banking (Santander CIB) global business line.

The transaction is expected to close by the end of the first quarter of 2022, subject to regulatory approvals.

Deal Rationale

The deal bolsters Santander CIB’s infrastructure and capabilities in market making of US fixed income capital markets.

It also expands its institutional client footprint and expands its structuring and advisory capabilities for asset originators in the real estate and specialty finance markets.

Amherst Pierpont also adds a platform for self-clearing of fixed income securities for the group globally.

The company said that the combined platform will offer strong corporate debt and securities finance capabilities in the US and emerging markets.

Comments

Santander Group executive chairman Ana Botín said: “This acquisition is consistent with our customer focused strategy and our commitment to profitable growth in the USA. It complements our product offerings and capabilities, allowing us to strengthen our relationships with our corporate and institutional clients.

“The Amherst Pierpont team bring a successful track record and experience in delivering value for their clients.”

Amherst Pierpont CEO Joe Walsh added: “Santander Group is one of the world’s most respected financial institutions and an ideal partner for our growing franchise.

“With Santander’s global reach we will be able to significantly expand our product offering, grow our client base and increase the level of service we can provide to our clients.”

In March this year, Santander Private Banking announced its intention to acquire Indosuez Wealth Management business in Miami.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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