Banco Santander's sponsorship of Ferrari "placed the name of Spain's biggest lender across the chassis" of the Italian Formula 1 "supercar," according to Penty, Baigorri & David of BLOOMBERG. It has "also helped its lesser-known securities unit secure one of the most coveted briefs for the world's top investment banks." Fiat Chrysler Automobiles picked Santander as one of three underwriters that will "lead the initial public offering of Ferrari," a company it values at more than $11B. Santander beat competition from Wall Street firms including JPMorgan Chase & Co. and Morgan Stanley. Santander Global Head of Corporate & Investment Banking Georg Orssich: "If we had not been a long-standing partner, we would never have got the mandate. It's a deal with an unusual amount of visibility. There is a very strong relationship there." The partnership -- for an undisclosed amount -- "is now paying off in
a business dominated by investment banks that dwarf the Spanish
competitor." Santander ranked 28th in managing global equity offerings over the past
decade, "paling in comparison with its partners on the deal." Ferrari shares "are set to begin trading" in N.Y. later this year. Santander renewed its sponsorship of the Ferrari brand in '12 through '17. Whether it leads to Santander "winning more global IPO mandates is
uncertain, as large companies look for investment banks able to tap investors from Asia to the U.S." (BLOOMBERG, 7/29).
