Santander AM, the asset management division of Banco Santander, is set to appoint Pablo Costella as the new Head of Fixed Income for Latin America as part of a broader plan to modernize operations in the region through centralization, according to information published by Bloomberg.
Costella, who previously served as the Director of Global Fixed Income at BICE Inversiones Asset Management, will replace Alfredo Mordezki, who is based in London and will leave the Spanish entity after 14 years, according to sources within the company consulted by Bloomberg.
Costella’s appointment, based in Chile, is part of a broader reorganization by Banco Santander, aiming to relocate asset management positions for Latin America within the region rather than placing them in other parts of the world. Last year, Santander AM appointed Héctor Godoy to lead the Latin American Equity division, also from Chile.
Santander AM, led by Samantha Ricciardi since February 2022, has focused on attracting new institutional clients and aims to grow in alternative investments with private debt and infrastructure funds. Santander AM manages 226 billion euros in assets under management.
The investment fund business is part of the wealth management and insurance division, headed by Javier García-Carranza, who replaced Víctor Matarranz in May.
For Funds Society