Santander Holdings USA in Boston has named T. Timothy Ryan as chairman of the company and its Santander Bank subsidiary.
Ryan most recently served as vice chairman for regulatory affairs at JPMorgan Chase. He was also previously president and chief executive of the Securities Industry and Financial Markets Association. Earlier in his career, he served as director of the Office of Thrift Supervision, a now-defunct office that was part of the Treasury Department.
"We are confident that his deep understanding of the local banking market, regulatory environment and financial services industry will be invaluable as we build our U.S. business," said Ana Botin, Santander Group's executive chairman, in a press release Monday. "Tim's charge is to lead our U.S. business oversight as we strengthen [Santander Holdings USA's] governance, structure and control functions and to guide Santander Bank's retail and commercial banking business."
Santander Holdings, a unit of Banco Santander in Spain, is the holding company for $77 billion-asset Santander Bank, formerly known as Sovereign Bank.
Ryan succeeds Jerry Grundhofer, who has retired after serving for three years as chairman.