Banco Santander named a new chief executive for its unit that serves as the holding company for its U.S. retail bank, Santander Bank, and its subprime auto lender, Santander Consumer USA Holdings.
Santander Holdings USA, the holding company, named Scott Powell as CEO, replacing Román Blanco in that role. The appointment of Powell, the former head of banking and consumer lending operations at JPMorgan Chase, took effect Monday. Blanco will remain chief executive of the $80 billion-asset Santander Bank.
Powell for the last two years had been chairman of National Flood Services. He worked for JPMorgan and one of its predecessors, Bank One, from 2002 to 2012 in various jobs, according to his LinkedIn page. Before that he spent 14 years in risk management at Citigroup.
"[Powell's] expertise and experience in retail banking, consumer finance and risk management will be a great contribution as we work to improve customer service, enhance our U.S.-wide oversight and embed our banking culture across the U.S.," Ana Botín, chairman of Banco Santander, said in a press release.
Powell's appointment is the latest personnel move in Santander's executive ranks in recent months. Jose Antonio Alvarez on Jan. 1 was promoted from chief financial officer of Banco Santander to CEO. Ana Botín was named chairman last year after her father, Emilio Botín, passed away at age 79. The elder Botín had led the company since 1986.
Also on Monday, Banco Santander said it will consolidate two additional subsidiaries into Santander Holdings USA. The $5.5 billion-asset Banco Santander Puerto Rico, the company's retail bank in Puerto Rico, and Banco Santander International, a private bank in Miami, will be integrated into Santander Holdings USA by the middle of this year. Those units had been organized directly under the Spanish parent, Banco Santander, according to the Federal Reserve.
Santander Holdings USA owns all of Santander Bank, and 60.5% of Santander Consumer USA Holdings.