Javier Garcia-Carranza shakes up Santander's wealth business with sweeping changes

Javier Garcia-Carranza, head of Santander's wealth, asset management, and insurance unit, is implementing sweeping changes to boost fees and global reach. The overhaul includes job cuts, team reorganizations, and a shift towards independent advice services. While some employees are concerned about job security, Garcia-Carranza aims to make the unit more global and profitable, with fees expected to grow in the medium term.