ING Group is set to double the size of its private banking team in Spain before the end of the year, according to reports from Expansion.
The aggressive hiring drive follows the Dutch bank's recent agreement to acquire a 40% stake in Singular Bank, the Spanish wealth manager founded by former Santander CEO Javier Marín.
The expansion of personnel underscores ING's commitment to integrating the Spanish operation into its broader European wealth management strategy.
By significantly increasing its on-the-ground presence in Madrid, the bank aims to consolidate its market position and leverage the client base of Singular Bank, which has been a notable player in the Iberian private banking sector.
ING emerged as the lead investor in a consortium that purchased the stake from US private equity firm Warburg Pincus.
The move marks a strategic deepening of ING's foothold in Spain, a market where the bank has been seeking to grow its affluent client segment.