New England Council member Santander has announced that Timothy Wennes will be the new President and CEO of Santander’s U.S. banking operations. Mr. Wennes’ tenure as CEO of the Boston-based bank is set to begin on September 16, 2019.
Mr. Wennes brings many years of banking and finance experience to his new role. He most recently served as MUFG Union Bank’s West Coast President, overseeing commercial banking, real estate industries, and wealth management. As Santander’s President and CEO, Mr. Wennes will be responsible for establishing and executing long-term growth strategies for the bank.
In addition, Santander has recently hired Juan Carlos Alvarez to be Santander U.S. and Santander Bank’s new Chief Financial Officer. Mr. Alvarez joined Santander in 1996 and has successfully held various roles of increasing responsibility over the years.
“These changes further strengthen our U.S. management team at this important juncture for Santander’s U.S. businesses,” said Scott Powell, CEO of Santander U.S. in a statement. “Over the past 18 months, we’ve achieved a number of milestones: significant regulatory progress, an amended agreement with FCA at Santander Consumer, and we’ve been the fastest-growing country within Santander Group throughout 2018 and 2019. The leaders we’re announcing today, with their unique blend of institutional knowledge and finance experience, will continue to drive Santander U.S. forward.”
The Council congratulates Santander’s new senior executives and wishes them continued success.