Caja de Ahorros del Mediterraneo (CAM)

Caja de Ahorros del Mediterraneo (CAM) is the Mediterranean Savings Bank, a Spanish savings bank that was established in Alicante 133 years ago.

The company

Caja de Ahorros del Mediterraneo (CAM) is the Mediterranean Savings Bank, a Spanish savings bank that was established in Alicante 133 years ago. It has the fourth biggest savings bank in Spain, with over 1200 branches in the country, but with a strong focus on the country’s south and east coast. Aswell as London, it also has representative offices in Cuba, the Dominican Republic, Mexico, Morocco, Shanghai, Geneva and Poland; and a branch in Miami.

Aim

The company was looking to grow its London presence from two staff to 15 in three years’ time. Both help British clients to buy a property in Spain and assist Spanish companies in the UK.

Think London helped with:

• providing an overview of the financial services sector in the UK
• introducing the firm to an accountant
• helping to organise a tour of potential properties with a property agent
• supplied average salary guides and details of recruitment consultants
• ongoing support including invitations to relevant events

Market factors:

• A presence in London is crucial to all financial services companies who wish to be serious operators in the world’s markets.
• London leads the world in a range of financial services, including foreign exchange trading, international equities trading, fund management, derivatives trading, Euro money derivatives trading, international insurance and bonds trading.
• London is the historical home of banking and investment. Its reputation for stability and business-friendly regulation stretches back over centuries. Today, London is Europe’s largest investment banking centre.

In their own words

“We were contacted by Think London when we first came to London three years ago, in 2005. It was a really useful contact to have made, because three years later in 2008 we were thinking of moving premises and we knew straight away who to call.

“Some of our senior colleagues came over from our Head office to undertake research about the business expansion opportunities in London. Think London were really, extremely helpful during this time. They helped us identify a new office, they provided information to our Head office colleagues about business in London and networking opportunities that they could get involved in. They helped us with recruitment for additional staff and to source a reputable property consultant, all of which was fantastic, very efficient.

“It is good to know that Think London is there whenever you need something and you don’t know where to go. They are extremely reliable and helpful.

“Being a bank, London is the place you have to be. It’s the financial centre of the world. We have offices all over the world but London was always the big player and target location for us. Being in London has worked out well for us, partly because of the fantastic team we have here and the ability to recruit the skills and talent we are looking for.

“It was very interesting for me to see how the network works for Spanish companies in London – for example, the Spanish chamber of commerce. Suddenly you find this Spanish world you didn’t know was going on, right in the heart of London. There is a strong Spanish community in London and they do a lot of business together.

“How do I find living in London? I love it. London has everything. I have this conversation with many people – I just don’t tire of it. As a company too it was always London.”

Mendía Echeverría
UK assistant manager
London Representative Office
CAM

For more information about CAM, please visit www.cam.es