Third-party fund distribution platform Allfunds Bank, part-owned by Abbey parent Santander, is launching in the UK.
Allfunds, 50% owned by Grupo Santander and Italy's Sanpaolo-IMI, will have close working relations with Abbey, but products will need to meet the platform's criteria.
Holly Mackay, director of Allfunds, said: "Abbey will be one of our biggest clients, but we will be independent."
Formerly head of wraps at Abbey, Mackay will be based at the group's London office while she seeks headquarters.
The platform connects fund distributors with international asset management houses. Allfunds Bank also offers fund execution and dealing, consulting and advisory services and commercial support.
Mackay said: "The platform provides access to more than 7,000 funds from many of Europe's leading managers and could provide entry into these markets for UK asset managers seeking to expand distribution channels."
More than £3m transferred
Available to 80,000 employers
Covered call option strategy
Cunningham Coates wealth manager
More than 20 partners on board