Creand Wealth Management achieves 25% growth in 2024, surpassing EUR 5 billion in business volume
The private banking institution expects to reach EUR 6 billion in business volume by the end of 2025 — one year ahead of schedule under its Strategic Plan.
The bank has expanded its presence in the Spanish market with the opening of two new offices in Malaga and La Seu d’Urgell (Lleida).
Creand Wealth Management, the private banking specialist of the Creand Group in Spain, closed the 2024 financial year with a 25% increase in business volume, reaching EUR 5.191 billion. This organic growth reinforces the bank’s strategic commitment to a global private banking and wealth management model, founded on highly specialised and personalised advisory services. The bank recorded profits of EUR 657,000.
Its robust business model is further evidenced by strong solvency and liquidity (LCR) ratios, which stood at 21.55% and 242.8% respectively at year-end 2024 — significantly above the required regulatory minimums.
The bank anticipates reaching EUR 6 billion in business volume by the end of 2025, a full year ahead of the target set out in its 2024–2026 Strategic Plan.
Expansion and consolidation in Spain
Throughout 2024 and into early 2025, Creand Wealth Management has strengthened its presence in the Spanish market by opening two new offices, one in La Seu d’Urgell (Lleida) and another in Malaga, thereby expanding its geographic coverage and bringing its services closer to the Pyrenean region and the Andalusian community.
This increase in activity has been accompanied by a 16% expansion of the commercial team, now comprising 50 private bankers: 23 based in Madrid, 15 in Catalonia, 6 in Valencia, 2 in Malaga and 4 in La Seu d’Urgell (Lleida). The total number of employees in Spain now stands at 122.
The firm’s growth in 2024 was consistent across all its offices. In Madrid, business volume rose by 25% to EUR 2.673 billion. In Barcelona, the figure reached EUR 1.763 billion, reflecting a 15% year-on-year increase. Meanwhile, in the Valencian Community and Murcia , business volume grew by 24% to EUR 467 million.
Over the course of the year, the bank has continued to strengthen its business model, combining private banking services, asset management and specialised Multi Family Office solutions with a multi-custody structure. In addition to the bank’s organic growth, Creand Asset Management has seen increased activity, expanding its product offering in line with its strategy to enhance access to alternative investment vehicles.
In 2024, the asset manager closed the year with EUR 2.31 billion in assets under management, of which EUR 856 million originated from its Family Office division — a figure that highlights its consolidation in the market. Furthermore, Creand Asset Management received authorisation from the National Securities Market Commission (CNMV) to directly manage harmonised collective investment undertakings (CIUs) domiciled in Luxembourg, under the freedom to provide services regime. In 2025, this authorisation has been extended to include Luxembourg-domiciled alternative investment funds, in line with the asset manager’s strategic growth plans and its ambition to increase assets under management across the group.
Marcos Ojeda, Chief Executive Officer of Creand Wealth Management in Spain, explained that: “The goals set out in our strategic plan are being met, and in some cases ahead of schedule, thanks to our team’s ability to generate value for clients, the growth in our asset manager’s product and service portfolio and the consolidation of our Multi Family Office division. We remain committed to attracting and retaining talent in order to consolidate our highly specialised wealth management model and maintain steady, sustainable growth.”
Creand Group 2024 full-year results
Creand Group closed the 2024 financial year with a total business volume of EUR 30.70 billion, marking growth of 11.1% compared with 2023, and profits of EUR 70.9 million. Strong portfolio management and favourable financial market conditions supported the performance of the private banking business and contributed to the results, as well as reinforcing the group’s market leadership in Andorra. In addition to Spain and Andorra, Creand Group maintains a presence in Luxembourg and Miami (USA).
Creand Wealth Management is the trade name of Banco Alcalá, S.A.