Key Takeaways
- • BBVA Private Banking has launched an independent multi-family office service in Spain for fortunes between €30 million and €300 million, led by César Solera, Head of BBVA Multi-Family Office in Spain.
- • The service launches with a team of 10 senior professionals, each with more than 20 years of experience, operating from offices in Madrid's prime area outside standard BBVA branch network.
- • The offering is built on three pillars: an experienced team, company independence and autonomy, and technology, with an open-architecture model that consolidates client wealth held across multiple institutions.
- • The service targets high-net-worth individuals and business families seeking governance-focused management, not only existing BBVA private banking or wealth management clients, and will be rolled out internationally at a pace tied to client demand in other markets.
Summary
BBVA Private Banking has announced the launch of an independent multi-family office service for fortunes between €30 million and €300 million. The initiative is led by César Solera, Head of BBVA Multi-Family Office in Spain, and the service is already operational. It has been structured as an independent company and will be presented to the bank's private banking clients. The bank describes its value proposition as resting on three pillars: an experienced team, company independence and autonomy, and technology.
The service was presented and launched in Spain and has a global scope, meaning it will be implemented in other geographies where BBVA operates. Fernando Ruiz, Head of BBVA Private Banking, said the pace of rollout "will depend on the needs of high-net-worth clients in other markets, as well as the characteristics of this ultra-high-net-worth profile, whose requirements vary by country." At launch, the service employs a team of 10 senior professionals, each with more than 20 years of experience, and will grow according to client needs. The team operates from offices in Madrid's prime area, separate from standard BBVA branches.
According to Solera and Ruiz, the target audience is not limited to existing private banking or wealth management clients, although those clients will also be offered the service. The focus is on high-net-worth individuals and business families seeking a comprehensive management proposal across multiple entities, with particular emphasis on governance. Both executives said the service complements rather than competes with the bank's existing offerings, adding a layer of service and advice, and cited sufficient demand in Spain as well as growing demand from Latin American wealth profiles.
The multi-bank operations and open-architecture model allow clients to consolidate wealth information regardless of the institutions where their assets are held, providing a unified view of risks, costs, diversification and investment opportunities. The advisory model is built around four axes: investment strategy (asset allocation across listed markets, private markets and real assets); wealth planning (including structure, taxation, succession and multi-generational protection); real estate and alternative assets, including off-market and international opportunities; and governance and legacy, alongside purpose and lifestyle services such as philanthropy and art collection management. Additional offerings include debt and financing structuring, insurance solutions, and coordinated access to internal and external specialists.
The service was presented and launched in Spain and has a global scope, meaning it will be implemented in other geographies where BBVA operates. Fernando Ruiz, Head of BBVA Private Banking, said the pace of rollout "will depend on the needs of high-net-worth clients in other markets, as well as the characteristics of this ultra-high-net-worth profile, whose requirements vary by country." At launch, the service employs a team of 10 senior professionals, each with more than 20 years of experience, and will grow according to client needs. The team operates from offices in Madrid's prime area, separate from standard BBVA branches.
According to Solera and Ruiz, the target audience is not limited to existing private banking or wealth management clients, although those clients will also be offered the service. The focus is on high-net-worth individuals and business families seeking a comprehensive management proposal across multiple entities, with particular emphasis on governance. Both executives said the service complements rather than competes with the bank's existing offerings, adding a layer of service and advice, and cited sufficient demand in Spain as well as growing demand from Latin American wealth profiles.
The multi-bank operations and open-architecture model allow clients to consolidate wealth information regardless of the institutions where their assets are held, providing a unified view of risks, costs, diversification and investment opportunities. The advisory model is built around four axes: investment strategy (asset allocation across listed markets, private markets and real assets); wealth planning (including structure, taxation, succession and multi-generational protection); real estate and alternative assets, including off-market and international opportunities; and governance and legacy, alongside purpose and lifestyle services such as philanthropy and art collection management. Additional offerings include debt and financing structuring, insurance solutions, and coordinated access to internal and external specialists.
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