Santander announces alliances with two U.S. equity research firms

PROVIDENCE – Santander US Capital Markets LLC, the U.S. broker-dealer of Santander Corporate & Investment Banking, or Santander CIB, recently entered two United States equity research firm alliances with Telsey Advisory Group LLC and Vertical Research Partners LLC, Santander CIB announced.

Both groups are recognized sector leaders with established track records, highly regarded analysts and clear visions for expansion, Santander CIB said in a news release.

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The bank described the Telsey Advisory Group as a strong institutional equity sales and agency trading platform focused on the retail and consumer and e-commerce sectors, covering close to 100 companies.

“We are thrilled to work with Santander, one of the largest global banks, as they accelerate their U.S. capital markets business,” Dana Telsey, founder and CEO of Telsey Advisory Group, said in a statement. “We look forward to collaboratively leveraging the U.S. consumer research product and institutional relationships of TAG with the complete set of services that Santander provides to its corporate clients. With Santander’s leading market position in Europe and Latin America, the bank’s growth strategy in the U.S. aligns with TAG’s.”

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Santander said Vertical Research Partners is a preeminent equity research firm focusing on the industrials and materials sectors, covering more than 120 companies.

“We look forward to leveraging our market-leading Industrials & Materials research platform with the global scale and financial markets expertise of Santander to better serve our respective clients and open new avenues of mutual growth,” Jeffrey Sprague, founder and managing partner of Vertical Research Partners, said in a statement.

The alliances will allow the bank to provide its clients with “industry-leading U.S.-based equity research,” according to the release.

Santander said it will benefit from the firms’ “leading expertise and established institutional relationships,” while the firms will gain advantages from the bank’s “extensive scale, geographical reach and financial market knowledge and capabilities.”

“Today’s announcement complements our U.S. growth strategy across all industry and product groups over the past 18 months,” David Hermer, head of Santander CIB US, said in a statement. “The addition of these top-notch equity research firms completes the full suite of product capabilities we deliver to our corporate clients globally and strengthens Santander’s equity capital markets offering in the U.S.”

As of October 2024, Santander had more than 400 branch locations in nine states, including 20 offices and $2.9 billion in deposits in Rhode Island, which made it the fourth-largest bank in the state with a 6.8% market share in deposits at that time.