Santander UK's Board of Directors today announced that, following a successful five-year term as Chair of Santander UK, Shriti Vadera has informed the Board of her intention to step down later this year.
Shriti was appointed Chair on 30 March 2015, having previously served as Independent Non-Executive Director and Deputy Chair from 1 January 2015.
In line with the Board's long-term succession plan and in order to facilitate an effective transition, Senior Independent Director Scott Wheway began an external search for her successor earlier this year. Shriti will continue as Chair of Santander UK until completion of a transition to her successor.
Shriti will join Prudential plc as a non-executive director from 1 May 2020 and is expected to be appointed Chair of the Board on 1 January 2021.
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Notes to editors:
Santander UK Group Holdings plc and Santander UK plc (together "Santander UK")
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 December 2019, the bank had around 23,500 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of September 2019, Banco Santander had EUR 1.04 trillion in customer funds, 144 million customers, of which 21 million are loyal and 36.2 million are digital (51% of active customers), 12,700 branches and 200,000 employees. Banco Santander made underlying profit of EUR 6,180 million in the first nine months of 2019, an increase of 2% compared to the same period the previous year.
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