Spanish bank Banco Santander has bought the private banking unit of BNP Paribas in Miami to help to win more business from wealthy Latin American clients. BNP Paribas said in a statement it had decided to sell the unit, without disclosing the buyer or the price. BNP said it plans to focus on its wealth management business on markets where the lender has a consumer banking presence or a more developed structure to service wealthy clients. Santander’s global private banking business had 110.9 billion euros ($153.1 billion) under management and earned 154 million euros for the bank in 2013. BNP’s Miami unit has about $3 billion in assets
