Banco Santander Central Hispano (IMT, November 8) has announced that subsidiary operation Santander Global Advisors will be shut down by the end of January. The closing is a result of the parent company’s decision to focus its asset management business in Madrid, Spain. The decision affects 43 staff members, who have been laid off. The decision was not a reflection on the company, insist officials, but due to the merger earlier this year of Banco Santander and Banco Central Hispano. At

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