BOSTON, July 24, 2019 /PRNewswire/ -- The Boards of
Directors of Santander Holdings USA, Inc. ("Santander US") and Santander
Consumer USA Holdings Inc. ("SC")
have approved several senior management appointments to further
strengthen Santander's US leadership teams.
In the coming months the following leadership changes will take
effect, with all four senior executives reporting to Scott Powell, Chief Executive Officer of
Santander US and SC.
At Santander US:
- Timothy Wennes will become
President and Chief Executive Officer of Santander Bank, N.A. ("SBNA"), effective
Sept. 16, 2019. He joins SBNA from
MUFG Union Bank in California.
Wennes succeeds Duke Dayal, who was
named Chief Financial Officer of Santander UK on July 10, 2019, effective Sept. 16, 2019. Dayal currently serves as CEO of
SBNA and CFO of Santander US.
- Juan Carlos "JC" Alvarez will become Santander US and SBNA CFO,
effective Sept. 16, 2019. Alvarez
currently serves as the CFO at SC, a role he has held since 2017.
Alvarez succeeds Duke Dayal in his
capacity as Santander US CFO.
At Santander Consumer:
- Fahmi Karam, SC's Head of
Pricing and Analytics, will succeed Alvarez as CFO of SC, effective
Sept. 16, 2019. He will continue to
lead the Pricing and Analytics group in addition to his new
role.
- Shawn Allgood, currently
Executive Vice President at Chrysler Capital, succeeds Richard Morrin as Head of Chrysler Capital and
Auto Relationships at SC, effective immediately. Morrin has
resigned to assume a CEO role with a privately-held company outside
of the auto finance industry.
"These changes further strengthen our US management team at this
important juncture for Santander's US businesses," said Powell.
"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
US forward."
Powell continued, "I am pleased that so many of these roles are
being filled with people who already work at Santander. It speaks
to the strength, depth and maturity of our US management teams. I
also want to thank Duke and Rich for their years of service to
Santander's businesses in the US, and wish them the best as they
take on new opportunities."
As President and CEO of SBNA, Timothy
Wennes will have responsibility for establishing and
executing long-range plans and growth strategies for SBNA. Wennes
brings significant banking experience to the role, joining
Santander from MUFG Union Bank, N.A. ("MUFG"), where he most
recently served as West Coast President and Head of the Regional
Bank. At MUFG, he oversaw Commercial Banking, Real Estate
Industries, Consumer Banking and Wealth Management, in addition to
holding responsibility for the bank's Enterprise Marketing and
Corporate Social Responsibility programs.
Juan Carlos "JC" Alvarez joins Santander US from SC, where he
has served as CFO since October 2017.
A highly experienced finance professional, Alvarez joined Santander
in 1996 and has held roles with increasing responsibility,
including Corporate Treasurer for Santander US. In that role,
Alvarez oversaw Santander US's liquidity risk management, asset
liability management, fixed-income investor relations and treasury
functions.
Fahmi Karam has been appointed
CFO of SC in addition to his current leadership position as Head of
SC's Pricing and Analytics. He joined SC in September 2015 as Executive Vice President of
Strategy and Corporate Development, where he was responsible for
overseeing financial planning and analysis, asset acquisitions and
sales, and other strategic initiatives. Previously, Karam spent 12
years with J.P. Morgan's investment banking unit. He also held
positions at Deloitte in its audit and assurance services.
Shawn Allgood will assume the
role of Head of Chrysler Capital and Auto Relationships from his
current position as Executive Vice President, where he led consumer
underwriting. In his new role, Shawn will be focused on, and
responsible for, Chrysler Capital and SC's sales and marketing
activities, and its dealer and customer relationships. He joined
Santander in April 2017 from Ally
Financial Inc., where he held a series of leadership roles with
increasing responsibility for nearly three decades, serving most
recently as Executive Director for Collections.
Additional details regarding the appointments announced today
will be filed with the Securities and Exchange Commission by
Santander Consumer USA Holdings
Inc.
About Santander Holdings USA, Inc.
Santander Holdings
USA, Inc. (SHUSA) 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 125 million customers in the U.K., Europe, Latin
America and the U.S. As the intermediate holding company for
Santander's U.S. businesses, SHUSA includes five financial
companies with more than 17,500 employees, 5.2 million customers
and assets of over $144.8 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
Inc.
Santander Consumer USA Holdings Inc. (NYSE: 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
$56 billion as of June 30, 2019, and is headquartered in
Dallas. (www.santanderconsumerusa.com)
CONTACTS:
Santander Consumer USA
Investor Relations
Evan
Black
800.493.8219
InvestorRelations@santanderconsumerusa.com
Santander US Media Relations
Laurie Kight
214.801.6455
mediarelations@santander.us
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SOURCE Santander Holdings USA,
Inc.