Santander took the opportunity during the financial crisis to make a commitment to structured products and seek ways to restructure and also reinvent trades. Nothing too fancy, just using its knowledge of how to fix deals that were damaged and offer an escape route for investors. Distributors lauded the bank for being proactive while continuing to offer good pricing.
The past 12 months have been a game of two halves in Spain. The period to March was all about resuscitating products for which the