BOSTON, Dec. 2, 2019 /PRNewswire/ -- The Boards of
Directors of Santander Holdings USA, Inc. ("Santander US") and
Santander Consumer USA Holdings Inc. ("SC") today
announced several executive changes:
- Timothy Wennes has been named
Santander US CEO and Country Head, effective immediately. Wennes
succeeds Scott Powell, who has left
the company to pursue an outside opportunity.
Mr. Wennes joined Santander in September as CEO of Santander Bank, N.A. ("SBNA") – a role that he
retains in addition to his new appointment. He was also named to
the Santander US Board of Directors. In his expanded role, Mr.
Wennes will have responsibility for all U.S. operations of
Banco Santander, executing long-range plans and growth strategies,
and successfully completing the company's regulatory remediation.
Mr. Wennes brings significant banking experience to the role,
joining Santander from MUFG Union Bank, N.A.
- Mahesh Aditya has been named SC CEO, succeeding Mr. Powell in
his CEO role there. Mr. Aditya has served as Santander US Chief
Risk Officer since May 2018. He
joined Santander US in 2017 as Chief Operating Officer. Mr. Aditya
has deep consumer finance experience, and has held executive
management positions in risk management and oversight for Visa,
Citibank, JPMorgan Chase and Capital One.
- Sarah Drwal has been appointed
Santander US and SBNA Chief Risk Officer, succeeding Mr. Aditya,
bringing more than 20 years of experience to the role. Ms. Drwal
has served as EVP – Head of Enterprise Risk Management for
Santander US since 2017 and as CRO for SBNA Consumer and Business
Banking since 2016. Prior to joining Santander, Ms. Drwal served in
executive leadership roles in risk, fraud, governance and strategy
for JPMorgan Chase and Capital One, and began her career at
Experian.
- Juan Carlos "JC" Alvarez, Santander US and SBNA CFO, has been
named to the SC Board of Directors. A highly experienced finance
professional, Mr. Alvarez joined Santander in 1996 and has held
roles with increasing responsibility, including serving as CFO for
SC from 2017 to 2019 where he oversaw SC's financial reporting,
financial planning and analysis, and accounting functions.
Santander's U.S. business has completed a period of notable
transformation in the last four years, making substantial
enhancements with respect to board oversight, compliance, risk
management, capital planning and liquidity risk management. The
company closed two significant written agreements with the Federal
Reserve and as a result the Company received a regulatory
non-objection for its capital distribution plans in both 2018 and
2019, allowing it to return a dividend in 2018 for the first time
since 2011. It has also made significant lending and other
commitments to the communities in which it operates, and in 2018
achieved an upgrade to its Community Reinvestment Act rating.
Santander's U.S. strategy remains focused on seizing organic
growth opportunities and completing its regulatory remediation
initiatives while further integrating operations and support
functions to improve efficiency. In addition, Santander US will
continue to leverage the strength of the Santander Group while
investing in improving the customer experience through both digital
and physical channels. In the medium-term the Group aims to grow
the return on tangible equity in the US from 6% to 11-13%.
Banco Santander Executive Chairman, Ana
Botin, who recently joined the Santander US and SBNA boards,
said: "Tim and Mahesh have proven themselves to be excellent
leaders with tremendous expertise and talent. We see significant
opportunity for growth in the U.S. market and I am proud that we
have internal successors who are so well prepared to lead this next
stage of our strategy, and I look forward to working with them even
more closely in the years ahead. In the past four years we have
made outstanding progress in addressing the legacy regulatory
issues and laying the foundation for future growth, and on behalf
of the Board and the Group, I want to extend our thanks to Scott
and wish him all the best for this next stage of his
career."
SHUSA and SBNA Boards Chairman, Tim
Ryan, said, "The leadership team and employees of
Santander US have moved our US businesses forward in operating at
large financial institution standards, and this work will continue
with the leadership appointments we announce today. Santander US is
fortunate to have a deep, strong management team, and we will carry
on our work of meeting our regulatory goals and improving customer
satisfaction in all our businesses."
Additional details regarding the appointments announced today
will be filed with the Securities and Exchange Commission by
Santander Consumer USA Holdings Inc. and SHUSA.
Banco Santander (SAN SM, STD US, BNC LN) is a
leading retail and commercial bank, founded in 1857 and
headquartered in Spain. It has a
meaningful presence in 10 core markets in Europe and the Americas, and is the largest
bank in the euro zone by market capitalization. Its purpose is to
help people and businesses prosper in a simple, personal and fair
way. Santander is building a more responsible bank and has made a
number of commitments to support this objective, including raising
over €120 billion in green financing between 2019 and 2025, as well
as financially empowering more than 10 million people over the same
period. At the end of September 2019,
Banco Santander had EUR 1.04 trillion
in customer funds, 144 million customers, of which 21 million are
loyal and 36.2 million are digital (51% of active customers),
12,700 branches and 200,000 employees. Banco Santander made
underlying profit of EUR 6,180
million in the first nine months of 2019, an increase of 2%
compared to the same period the previous year.
About Santander Holdings USA, Inc.
Santander Holdings USA, Inc. ("Santander US") is a
wholly-owned subsidiary of Madrid-based Banco Santander, S.A.
(NYSE: SAN) ("Santander"), one of the most respected banking
groups in the world with more than 144 million customers in the
U.K., Europe, Latin America and the U.S. As the
intermediate holding company for Santander's U.S. businesses,
Santander US includes five financial companies with approximately
17,000 employees and assets of approximately $140 billion.
These include Santander Bank, N.A., one of the country's
largest retail and commercial banks by deposits; Santander
Consumer USA Holdings Inc. (NYSE: SC), an auto
finance and consumer lending company; Banco Santander International
of Miami; Banco Santander Puerto Rico and Santander Securities
LLC; and Santander Investment Securities Inc. For more information
about Santander Bank, visit www.santanderbank.com.
About Santander Consumer USA
Santander Consumer USA Holdings
Inc. (NYSE: SC) ("SC") is a full-service consumer finance company
focused on vehicle finance, third-party servicing and delivering
superior service to our more than 2.7 million customers across the
full credit spectrum. The company, which began originating retail
installment contracts in 1997, had an average managed asset
portfolio of approximately $57
billion (as of September 30,
2019), and is headquartered in Dallas. (www.santanderconsumerusa.com)
CONTACTS:
Santander Consumer USA and Santander US Investor
Relations
Evan Black
800.493.8219
InvestorRelations@santanderconsumerusa.com
Santander US Media Relations
Laurie Kight
214.801.6455
mediarelations@santander.us
View original content to download
multimedia:http://www.prnewswire.com/news-releases/santander-us-announces-leadership-appointments-tim-wennes-named-santander-us-ceo-and-country-head-and-mahesh-aditya-named-ceo-of-santander-consumer-300967648.html
SOURCE Santander Holdings USA,
Inc.