Santander Consumer Holdings in Dallas on Tuesday appointed William Rainer chairman, and it announced that Blythe Masters has resigned to advise Banco Santander — its Spanish parent company — on the blockchain.
Masters — a former JPMorgan Chase executive who is currently chief executive of Digital Asset Holdings — will serve on Banco Santander's international advisory board, and she will also join the board of Openbank, the company's online bank.
Rainer is currently a member of the Santander Consumer board, serving on the audit and regulatory oversight committees. From 2001 until 2004, he served as chairman and CEO of OneChicago, a futures exchange. Before that, he served as chairman of the Commodity Futures Trading Commission.
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Big banks began ceding market share to midsize and small subprime auto lenders, who they said were taking too many risks. Now prominent midsize player Santander Consumer is putting on the brakes and complaining about small, overly daring rivals. How bad a sign is that?
April 27 -
Profits fell double digits at Santander Consumer USA Holdings in Dallas in connection with its exit from the personal loan business and other nagging issues.
April 27 -
The Dallas-based subprime consumer lender backed off controversial changes to its method for calculating its quarterly provisions for loan losses, forcing it to revise earnings downward for the last two years. It also announced that it had found more accounting issues.
March 31
In a press release, Ana Botin, executive chairman of Banco Santander, praised both Masters and Rainer, saying that she is "very excited" that both have agreed to take on new roles.
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The change comes
It also caps off what has been a tumultuous year for the Santander Consumer, marked by
Santander Consumer is scheduled to report its second-quarter earnings on July 27.
