New Santander income funds may generate banking jobs

The announcement by Santander Asset Management that has launched two new income funds may generate new finance jobs in London.

Its retail network expands with the addition of Santander Sterling Corporate Bond Fund and Santander Enhanced Income Portfolio, potentially generating new product control jobs.

The two products form part of the Portfolio Investments range and are being managed in-house by Patrick Smith and Stephen Payne respectively.

Both opportunities are intended to complement existing income solutions in the fund range, available through UK branches of Santander and Alliance & Leicester, with no upfront fees charged.

"In a sustained period of low interest rates, there is clearly a real appetite amongst investors for a source of regular income," Santander Asset Management UK chief investment officer John Bearman stated.

Further banking jobs in the City could be generated by the planned merger of Chelsea Building Society and Yorkshire Building Society after savers and borrowers with both organisations approved proposals.