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Abbey’s Miguel Sard is now also managing director of Cater Allen

Miguel Sard, managing director of Abbey for Intermediaries, is taking on the additional role of managing director of private bank Cater Allen.

Santander-owned Cater Allen offers a range of products through brokers, including savings accounts, fixed term deposits, structured deposits and current accounts.

The private bank’s roots date back to 1816, when it was set up by the Cunliffe family.

Over a century and several acquisitions later, an amalgamation of companies was formed that by 1981 was known as Cater Allen.

During the 1980s it was primarily a wholesale bank but following the acquisition of Tyndall Bank in 1994 it massively expanded its private bank side.

Bought by Abbey in 1997, Cater Allen was one of the companies Santander took control of when it bought Abbey in 2004.

Sard says Cater Allen is strategically important and a key channel for Santander business.

He adds: “We have made it clear that we want to distribute more products through intermediaries, putting customers and the distribution channel at the heart of the relationship.

“Bringing our two intermediary brands together under the same management supports this goal.”

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