Private equity firm Warburg Pincus and Javier Marín Romano, a Spanish banking veteran with 25 years of experience in the sector, have partnered to acquire Self Trade Bank (Self Bank) from Société Générale’s Boursorama subsidiary.
Terms of the transaction have not been disclosed.
Self Bank is a leading online wealth management provider with a broad suite of banking and wealth management products including savings accounts, payroll accounts, equity, CFD and over 2,000 investment funds.
“With an extensive product and service offering, digital leadership and award-winning client service, Self Bank presents a compelling platform for future growth in the Spanish wealth management market,” says Dan Zilberman, Warburg Pincus Head of Europe. “We are pleased to partner with Javier, whose deep experience in the Spanish wealth management and banking sectors will be invaluable as we build upon our position in this space and attract leading Spanish financial advisors and clients.”
“For more than 15 years, Self Bank has empowered its clients by providing innovative and valuable solutions that allow them to take control of their financial future,” says Marín. “I look forward to working closely with Warburg Pincus’ team and Self Bank’s management to capitalise on Self Bank’s strong foundation and together, reposition the company for its next chapter of growth.”
The transaction is expected to close by the end of 2018, subject to regulatory approval.
