fish, IB-FIG has something to do with hedging and exit strategy. look at "wallstreetoasis.com" also i think that guy, if he didnt work for santander,was a liason to banco santander. ive seen articles on him and it was correlating with banco santander.
The 'FIG' at an investment bank usually refers to the financial institutions group - a group of professionals that provides investment banking and merger and acquisition expertise to financial institutions. In order to provide more tailored services, some investment banks further segment their areas of expertise under the financial institutions group into a banking or financial services group, and an insurance group. Some investment banks use these sorts of divisions more as a marketing technique than as a representation of real expertise.