Santander Bank Unifies U.S. Commercial Businesses, Names Michael Lee Head of Commercial Banking
October 19 2023 - 10:00AM
Business Wire
Santander Bank, N.A. (“Santander” or “the Bank”) recently
unified its commercial & industrial business and its commercial
real estate & vehicle financing business into one Commercial
Bank in the United States under the leadership of Michael Lee. Mike
joined Santander in 2009, and most recently served as Managing
Director and Head of Commercial Real Estate & Vehicle Finance.
He will continue to report to Tim Wennes, Santander US CEO and
Country Head, and Santander Bank President and CEO.
In his expanded role as Senior Executive Vice President and
Managing Director of Commercial Banking, Mike will oversee and
provide strategic direction for the Bank’s commercial real estate
construction business, community development finance and
investments, commercial equipment and vehicle finance,
international banking, middle market & corporate banking,
multifamily term lending, not-for-profit and government banking,
and treasury and deposit banking.
The new combined, client-centric organization is a natural
extension of the broader Santander US strategy to simplify its
structure and processes, transform the way it serves clients and
deliver sustained, profitable growth.
“Mike has spent more than 40 years in banking, which includes
leadership roles with Santander and its predecessor companies. He
knows the ins and outs of our businesses, and in addition to his
long history at the Bank, he brings strong industry and
client-focused experience. His deep expertise in leveraging our
global capabilities and local coverage teams to deliver growth
across all lines of commercial banking will position him well to
lead our newly integrated team,” said Tim Wennes, Santander US CEO
and Country Head, and Santander Bank President and CEO.
“Santander’s long-term vision for the Commercial Bank and
alignment to our strategy for the U.S. business will be extremely
valuable as we continue to modernize and transform to provide the
best holistic banking solutions and experience for our clients,”
Wennes continued.
Mike has spent the majority of his more than four-decade tenure
within financial services in lending and risk roles and has held
various executive positions with Bank Boston, Fleet and Sovereign
Bank. Mike is an active supporter of his local community and has
served on numerous civic and community boards. He is currently a
member of the Massachusetts Business Roundtable, Providence Chamber
of Commerce, Rhode Island Bankers Association, and a trustee of La
Salle Academy.
Mike earned his bachelor’s degree in accounting and master’s
from Providence College and remains an active member of the
Providence College President’s Council. He is based in Santander’s
office in Providence, Rhode Island.
About Santander Bank, N.A.
Santander Bank, N.A. is one of the country’s largest retail and
commercial banks with $99 billion in assets. With its corporate
offices in Boston, the Bank’s nearly 9,000 employees and more than
2 million customers are principally located in Massachusetts, New
Hampshire, Connecticut, Rhode Island, New York, New Jersey,
Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of
Madrid-based Banco Santander, S.A. (NYSE: SAN) – one of the most
respected banking groups in the world with 164 million customers in
the U.S., Europe, and Latin America. It is overseen by Santander
Holdings USA, Inc., Banco Santander’s intermediate holding company
in the U.S. For more information on Santander Bank, please visit
www.santanderbank.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019943884/en/
Media: Rich Tornambe richard.tornambe@santander.us
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