•    UK CEO Nathan Bostock appointed as Head of Investment Platforms at Banco Santander

Santander announced today that CEO Nathan Bostock has been appointed as Head of Investment Platforms at Banco Santander, reporting to Group Executive Chair, Ana Botin. He will be responsible for overseeing all investment platforms, owned or partly owned by Santander and managed by third parties, focused on high-return businesses that are complementary to traditional banking and can benefit from Santander’s geographical and client footprints.

He will step down as CEO towards the end of the year and start his new role when a successor has been appointed. A process to appoint a successor is underway.  

After six years at Santander, most recently as CEO Retail & Business Banking, Susan Allen has now considered it is the right time to look for new challenges outside the business. She will step down from the Board with immediate effect and leave the business later in the summer.

As the next stage in Santander’s transformation programme, and to further support the One Europe model, two new units are being created in the Retail banking division: Everyday Banking and Homes. Tracie Pearce joins in June to lead the Homes business and Enrique Alvarez, currently Head of Strategy and Corporate Development, has been appointed as the new Head of Everyday Banking with responsibility for serving the needs of individual and business customers across the bank’s key channels. Both roles will report to the CEO and are subject to regulatory approval. 

Santander UK Chair, William Vereker said: “On behalf of the Board, I would like to thank Nathan for his exceptional leadership of Santander over the last seven years. Our strong results are testament to the success of the strategic actions he has taken to refocus and transform the business in line with our customers’ ever evolving needs - creating a digital bank with a human touch. He has also ensured that Santander remains at the very heart of our local communities and created a diverse and inclusive culture where colleagues can truly bring themselves to work and thrive. 

“The bank is now extremely well positioned to succeed in the future with a clear strategy and an excellent platform for his successor and Executive team colleagues to build on. 

“I would also like to pay tribute to Susan for her service to the bank. She has worked tirelessly on behalf of our customers, our communities and our colleagues, not least over the past year in response to the Covid pandemic. Throughout her time at Santander she has been at the forefront of our transformation as a business and in delivering new and improved digital experiences for our customers. She leaves with our thanks and best wishes for the future.” 

CEO Nathan Bostock said: “I am incredibly proud to have led Santander over the last seven years. I have been privileged to have worked with an amazing group of exceptionally talented colleagues who have shared my vision and shown an unwavering commitment to our customers.”

Susan Allen, CEO of Retail and Business Banking said: “Santander is a bank that places its customers at the heart of everything it does. I am immensely proud of everything we have delivered, but now is the right time for me to take on a new challenge. I would like to thank my colleagues for having made Santander such a fulfilling place to work. I wish the bank well for the future.” 

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Notes to Editors:

1.    Photos available on request. 
2.    Biographies

Enrique Alvarez 

Enrique has c. 20 years’ international business experience in a range of blue-chip companies. He started his career at BMW before moving to Robert Bosch where he became Operations Director. 

He served as a McKinsey Partner for a range of global financial services and technology clients for eight years, including Santander.

Enrique joined Banco Santander in 2015 where he was Group Head of Strategy. He was also in charge of Responsible Banking and the Group’s Insurance business. He moved to the UK in 2019 as Head of Strategy and Corporate Development.