B2B Payments

Santander Adds RBS Muscle For Small Biz Unit


Santander has chosen a new executive to run its small business banking operations, according to reports published late last week.

Former RBS Deputy Chief Executive Chris Sullivan will join Santander as head of its small business and corporate unit, according to reports, which noted that the appointment is signaling that Santander will now look to shift into the world of corporate banking, in addition to its experience in consumer banking.

[bctt tweet="Former RBS Deputy Chief Executive Chris Sullivan will join Santander."]

“There is no one more qualified than Chris to guide our corporate and commercial business [and] to deliver clients a new banking experience,” stated Santander UK Chief Nathan Bostock. “That experience is one that is truly customer-centric and one that is simple, personal and fair.”

Reports noted that Sullivan had been the center of some controversy in the past. He left RBS at the end of 2014 after scrutiny from U.K. policymakers following criticism over the treatment of small business customers at the bank.

RBS’ global restructuring group was accused of forcing small businesses to financial ruin so the bank could purchase their assets for a profit, reports said. Since, the bank was reportedly in talks to repay some of its small business clients after both external and internal investigations into the matter.

Bostock is also a former RBS executive, according to reports.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.