Santander’s CEO, Hector Grisi, is implementing a major restructuring to enhance operational efficiency and profitability, dividing the bank into five core segments and creating a digital consumer banking unit.
Facts
- Santander’s CEO, Hector Grisi, is reorganizing the bank to improve operational efficiency and meet profit targets.
- The restructuring merges retail and commercial businesses into a global unit led by Daniel Barriuso and establishes a digital consumer banking business led by Jose Luis de Mora.
- All of Santander’s activities, including retail and commercial operations, will fall under five core global businesses.
- These five segments will include retail, commercial, payments, corporate and investment banking, and wealth management and insurance.
- The bank’s global heads will define the overall business operating model, while country heads will manage business operations, and regional heads will implement the model in their respective markets.
- Santander’s executive chair, Ana Botín, expresses confidence that this restructuring will benefit customers and drive profitable growth through a combination of global scale and local leadership.
