Santander’s Martin Said to Start Own Firm With Odey Help

From Bloomberg:

Ivan Martin, head of Iberian equities at Banco Santander SA (SAN)’s fund management unit, is leaving to start his own firm with the backing of Spain’s Hernandez family, three people with knowledge of the plans said.

Martin’s company will initially run two funds and have about 100 million euros ($128 million) under management, said one of the people, who asked not to be identified because the plans are private.

The Madrid-based firm will have a 10-strong advisory board which will include hedge-fund manager Crispin Odey and his wife, Nichola Pease, former chief executive officer of JO Hambro Capital Management, the person said. Speaking by telephone, Odey confirmed he and his wife will advise the funds.