
Warburg Pincus buys Self Trade Bank
Warburg Pincus has acquired Madrid-based Self Trade Bank from Societe Generale subsidiary Boursorama.
The GP teamed up with former Santander CEO Javier Marín Romano for the carve-out.
Marín Romano has 25 years of banking and financial experience. He has worked for Banco Santander since 1991, first as head of global private banking, asset management and insurance, and from 2013 to 2015 as director and CEO.
Self Trade Bank was founded in 2000 and acquired by Boursorama in 2003. Spanish CaixaBank joined the company's shareholder base in 2009, buying a 49% stake. In June 2015, CaixaBank exited the investment by selling its holding to Boursorama, which became the sole owner of the bank.
The transaction is expected to close by the end of 2018.
Company
Self Trade Bank is an online wealth management provider that offers a suite of banking and financial products including savings and payroll accounts, equity, contract for difference (CFD) and 2,000 investment funds. It was founded in 2000 and is headquartered in Madrid.
People
Warburg Pincus – Dan Zilberman (head of Europe).
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