Patrimonios Can's pick 'n mix

For private bank Patrimonios Can, autocallables and ‘mixed products’ based on domestic underlyings are the heart of its business, but regulatory nuances in the Spanish market also provide a focal point for the bank. Clare Dickinson reports

Cesar Izco Primo

Patrimonios Can, the private banking division of Spanish savings bank Caja Navarra, has focused on autocallable payouts linked to domestic underlyings since the financial crisis, as its clients have turned to simple structures and stocks they are familiar with.

As is the case for many other banks involved in structured products, complex structures are currently off limits, as are international underlyings. "Domestic investors prefer Spanish stocks. They feel more comfortable with those companies