Description:"Santander Private Banking is the registered business name of Abbey National International Limited, which is a wholly owned subsidiary of Santander UK plc. Santander UK plc guarantees all cash deposits held with Abbey National International Limited, however this guarantee is dependent on the financial standing and solvency of Santander UK plc. Santander UK plc operates under Santander Group’s ‘subsidiary model’. The subsidiary model works to ensure that all subsidiaries in the group operate on a standalone basis and effectively ringfences the subsidiary and retains funding and liquidity management at the local level. Additionally, as a UK bank, Santander UK plc is regulated by and subject to the full supervision of the Financial Services Authority (FSA) in the UK. This reinforces the subsidiary model and ensures that capital and liquidity are maintained in the UK. With 25 million customers, around 1400 branches and 25,000 UK employees; Santander UK plc is one of the leading financial services providers in the UK"
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