Santander US names chief strategy officer

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Santander US said Wednesday that it has named Daniel Budington, its head of financial planning, chief strategy officer for both its bank and its U.S. holding company.

Among his responsibilities in the newly created role will be developing strategic partnerships and identifying new growth opportunities. He will report directly to Tim Wennes, who is CEO of both the bank and Santander US.

Budington has more than 20 years of experience in financial planning, strategy and corporate development, the company said. He was most recently the executive director of financial planning and analysis for Santander Bank and Santander US. He joined Santander in 2014 as director of strategic planning and prior to that worked as an investment banker covering financial institutions for Guggenheim Securities, Deutsche Bank and Merrill Lynch.

“Dan brings a wealth of experience to this position and is well-versed in Santander’s U.S. strategy and our key short- and long-term objectives,” Wennes said in a press release. “I look forward to Dan joining the leadership team as we continue the regulatory, operational and cultural transformation of Santander US, particularly as we enter the next phase of our evolution focused on growth and profitability.”

After several years dealing largely with regulatory issues, the U.S. arm of Banco Santander in Madrid has begun to focus on new growth initiatives under Wennes, who joined the company last July. In a recent interview with American Banker, Wennes said that among other things, Santander will launch an unsecured personal loan and emphasize its global ties in ramping up commercial lending.

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