Latin millionaires set their residence in Madrid. Private bench has begun to open branches only for them

All cities of a certain size have certain neighborhoods in which the Density of wealthy people exceeds the average. In the case of Madrid that neighborhood has traditionally been the Salamanca neighborhood, and the type of housing that, by surface and qualities, in it, in it, is witnessing it, in it It has been built.

That real estate valuehe has turned the central Madrid neighborhood into the new destination for the Latin American millionairesto those who do not tremble their pulse for Pay up to 13,000 the square meter for a second residence on this side of the Atlantic.

Before the rise of these new neighbors in the neighborhood, the response of the bank has not been waiting. BBVA has announced The opening of a new exclusive office on Goya Street in Madrid only for Latin Millionaires. The requirements for you to meet: a minimum capital of 500,000 euros and economic interests on both sides of the ocean.

The Spain of the two benches

While in the rest of Spain the banks close physical branches (only in 2024, the Santander announced the closure of 200 offices) and mails must take care of giving coverage of Effective to Spain emptiedin the Wealthy neighborhoods in Madrid The trend is just the opposite.

Financial entities have identified the potential of this capital flow and have opted to open specialized offices, such as the new BBVA private bank branch in the heart of the Salamanca neighborhood. Where if not.

This office, the first of its kind in Spain, is designed exclusively to serve Latin American clients with high assets. As I pointed out The Economic newspaper Fifodiesthe branch manages a base of 583 clients, whose joint assets amounts to 440 million euros.

The objective of this new “luxury” branch is to offer a personalized service to those who have investments and assets On both sides of the Atlanticfacilitating the management of its wealth in a global and coordinated way by focusing on both European and Latin Americans.

To access this private banking service, customers must have a minimum financial assets of 500,000 euros. In addition, there are differentiated services for those who have between 500,000 and two million euros, and for ultra -ups with more than 10 million. At the global level, the BBVA Private Banking Division manages assets valued at about 140,000 million euros.

The best bankers: yes, those of Madrid

At the Goya BBVA Private Banking Office, he serves a team of five bankers specialized in managing assets in Mexico, Colombia or Peru markets. Each of these bankers makes periodic trips to their assigned country to maintain direct contact with customers and understand their specific needs. That is to say, They are the ones who queue To talk to your customers. Karma.

According to statements by Fernando Ruiz, director of private banking of the entity in Spain, published in InvertiaThe average international client profile that is attended from this branch has an average heritage of 800,000 euros. By nationalities, 50% are Colombians; 30% Mexicans and the remaining 20% ​​are Peruvians.

Beyond traditional financial management, BBVA offers a range of extrafinancial services specifically designed for this high purchasing power client profile. Do not think about the latest generation televisions, televisions or mobiles.

As confirmed by the bankers themselves Fifodieswe talk about exclusive experiences, such as entries for Real Madrid parties or the mutual Open Madrid, private visits to museums such as Prado and Thyssen, and training courses on the transmission of family heritage.

Although this personalized attention model is anecdotal in Spain, it already works successfully in enclaves with High concentration of millionaire populationlike Zurich and Miami. If the Salamanca neighborhood office works, perhaps this model could extend to Other areas of Spain who also host great Latin American fortunes, such as Galicia, Barcelona or the Costa del Sol.

In Xataka | If you have money, you have nationality: how the billionaires have fond of “gold passports”

Image | BBVA, UNSPLASH (Jorge Fernández Salas)