Santander sets aside $250 million to grow corporate banking in the U.S.

The bank has hired more than 100 mostly U.S. bankers this year, about half of them from Credit Suisse. "The possibility of accelerating growth in the U.S. was a logical opportunity for us," Ana Botín, Santander's chief executive, told the FT. As part of its U.S. expansion, the bank has acquired Amherst Pierpoint Securities, a principal trader for the Federal Reserve.