BBVA joins Newedge in Altura JV

Note: BBVA and Newedge, a global multi-asset broker, have formed a joint venture to combine their leading positions in the Spanish markets while retaining the brand name Altura

Spanish bank BBVA and Newedge, a global multi-asset broker, have formed a joint venture to combine their leading positions in the Spanish markets while retaining the brand name Altura. Under the joint venture agreement between the parent banks, which merges the Altura and Newedge Madrid offices, Newedge Group and BBVA will each have a 50% ownership interest in the new company.