In addition to the proposed merger with Banco Central Hispanoamericano, Banco Santander this month completed the reorganization of its wholesale banking units. Treasury and capital markets activities have been centralized in Madrid with a focus on Spanish peseta and Latin American business. Since last September, 550 jobs have been cut from the bank as a result of the restructuring of all banking units, according to a statement. The bank has closed its operations in Asia, with the loss of 20

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