You may find this interesting...
Many thanks for the heads up, eureka.
EARLIER STATEMENTS FROM GRUPO SANTANDER DATED 12/15/08
Spanish banking giant Grupo Santander SA, which recently purchased Sovereign, a big US bank, said it placed $3.1 billion of its private banking customers in Madoff's care through its Optimal Strategic. Santander, which has to date emerged unscathed from the global financial crisis.
GRUPO SANTANDER said in a statement on Sunday that its investment fund Optimal had exposure to Madoff Securities of 2.33 billion euros, 2.01 billion of which were funds invested for institutional investors and private banking clients outside Spain. The remaining 320 million euros were part of the investment portfolios of private banking clients in its home country, which are qualifying investors, the bank said in a statement.
"Optimal will undertake legal actions to defend the interests of the shareholders of the subfund," the bank said in a statement on Sunday evening.
Santander said its exposure came from an investment company managed by Optimal called Optimal Multiadvisors Ireland, which was authorized by the Irish Financial Services Regulatory Authority. The Irish-based company had a subfund called Optimal Strategic US Equity which had used Madoff Securities to carry out its investments.
The custodian of Optimal Multiadvisors and Optimal Strategic is HSBC Institutional Trust Services in Ireland, which belongs to HSBC, said Santander.
It said the Santander group also had 17 million euros invested in Madoff-related investments through another fund. In its statement, BNP Paribas said it had no investments of its own in Madoff funds but had risk exposure through its trading business and collateralized lending to funds of hedge funds.
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THE GIULIANI-MADOFF CONNECTION Wonder what Ghouli's holdings look like today?
(September 25, 2006) Ghouliani's Texas law firm "Bracewell & Giuliani" advises Grupo Santander in Acquisition of Leading U.S. Auto Finance Company
NEW YORK Bracewell & Giuliani advised Banco Santander Central Hispano, S.A. (SAN.MC, STD.N) in its agreement to acquire 90 percent of the U.S. auto financing company, Drive Financial Services, for approximately US $651 million.
(March 1, 2007) Bracewell & Giuliani Firm Advises Cintra in First Privatization of Toll Road in Texas DALLAS---Bracewell & Giuliani LLP (Texas-based law firm with global connections) advised Cintra Concesiones de Infraestructuras de Transporte, S.A., a Spanish transportation company, in its successful bid to develop State Highway 121 into a toll road through Collin and Denton counties ("trade road" is four football fields wide). The award to Cintra, approved by the Texas Transportation Commission, is the first privatization of a Texas toll road. Bracewell is acting as project counsel to Cintra with respect to the 50-year concession from the Texas Department of Transportation.
Cintra will pay a $2.1 billion upfront and annual lease payments totaling $700 million. "Cintra was awarded this project because of its proven expertise and competitive proposal," said Thomas O. Moore, partner with Bracewell & Giuliani. "This is the largest transportation deal of 2007. This is one of only five deals in the country." http://www.freerepublic.com/focus/f-chat/1803916/posts
NOTE: Giuliani and Texas Gov Perry took land from Texans via eminent domain and handed it over to Spaniards.