Daily News: July 24, 2019

Santander US Reshuffles Exec Suite, Taps Wennes as President & CEO


Santander Holdings and Santander Consumer USA Holdings have approved several senior management appointments to further strengthen Santander’s U.S. leadership teams.

In the coming months the following leadership changes will take effect, with all four senior executives reporting to Scott Powell, CEO of Santander US and SC.

At Santander US:

  • Timothy Wennes will become President and Chief Executive Officer of Santander Bank, (SBNA). He joins SBNA from MUFG Union Bank in California. Wennes succeeds Duke Dayal, who was named CFO of Santander UK. Dayal currently serves as CEO of SBNA and CFO of Santander US.
  • Juan Carlos Alvarez will become Santander US and SBNA CFO. Alvarez currently serves as the CFO at SC, a role he has held since 2017. Alvarez succeeds Duke Dayal in his capacity as Santander US CFO.

At Santander Consumer:

  • Fahmi Karam, SC’s head of Pricing and Analytics, will succeed Alvarez as CFO of SC. He will continue to lead the Pricing and Analytics group in addition to his new role.
  • Shawn Allgood, currently EVP at Chrysler Capital, succeeds Richard Morrin as head of Chrysler Capital and Auto Relationships at SC. Morrin has resigned to assume a CEO role with a privately-held company outside of the auto finance industry.

“These changes further strengthen our U.S. management team at this important juncture for Santander’s US businesses,” said Powell.

“I am pleased that so many of these roles are being filled with people who already work at Santander. It speaks to the strength, depth and maturity of our U.S. management teams. I also want to thank Duke and Rich for their years of service to Santander’s businesses in the U.S., and wish them the best as they take on new opportunities.”