Santander Reorganizes Retail-and-Commercial, Consumer Operations
September 19 2023 - 2:01AM
Dow Jones News
By Adria Calatayud
Banco Santander said it is consolidating its
retail-and-commercial and consumer activities in all its markets
under two new global businesses, a move aimed at aligning these
operations with the model of the rest of the group.
The Spanish bank said late Monday that its retail-and-commercial
and consumer operations will be housed under two new global
businesses--retail and commercial and digital consumer bank. These
new business segments add to the group's payments,
corporate-and-investment banking, and wealth
management-and-insurance businesses.
Santander said these five areas will become its primary
reporting segments from January 2024. Country and region-specific
data will become secondary segments in the bank's reporting going
forward, it said.
Daniel Barriuso will head Santander's retail-and-commercial
business, which combines all its retail and business banking
globally, while Jose Luis de Mora will lead the digital consumer
bank that houses all the group's consumer-finance activities
worldwide, Santander said.
The bank said its financial targets outlined in February remain
unchanged.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
September 19, 2023 01:46 ET (05:46 GMT)
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