Landmark Iberia, the financial institution’s new spin-off, has a well-defined goal: to add value to the terrains. According to Cinco Dias, the new company’s task is to settle the assets’ legal Framework, so that they can be valued and sold at a higher price.
This strategy from Banco Santander is being carried out by deputy general manager Javier García-Carranza, as well as by three other directors at the financial institution: Carlos Manzano, Juan Babio and Manuel Velicia.
The endgame for Santander, according to the same newspaper, is to sell the company in the future. Thus, the bank will manage to free itself completely of the assets it acquired during the real estate crisis, between 2007 and mid 2014.
