Santander Picks Christiana Riley as US CEO Amid Companywide Reorganization

Banking giant Santander has reportedly chosen a new U.S. CEO amid a larger reshuffle.

Christiana Riley will succeed Tim Wennes as the bank’s lead in the U.S., Executive Chair Ana Botin announced Friday (Jan. 31), per a report by Reuters.

Sources told the news outlet that — as part of the changes associated with this restructuring — Santander plans to eliminate the three regional divisions in Europe, North America and South America that it opened in 2019 while proceeding with the implementation of its five global units.

Reuters noted that the reshuffle is happening at a time when Santander is expanding its footprint in the U.S. in businesses like corporate and investment banking.

According to Reuters, Riley joined Santander in 2023, overseeing the bank’s North American business. The lender has one of the biggest auto loan businesses in America and wants to use the U.S. to develop its own technology platform for consumer banking, which would include digital-only banking and consumer finance.

In October, the company introduced Openbank, its U.S. digital banking platform, with Botin saying the offering will be a full-service bank by the end of this year.

“The U.S. is a key market for us, where we have been expanding our business over the past years,” Botin said in a news release. “Openbank is banking made easy and will offer the best high-yield savings accounts in America that are simple and fast with a competitive rate, and built by Santander, a bank that has the trust of 168 million customers.”

Per other reports this month, the Spanish bank is apparently rethinking its U.K. presence 20 years after entering the British banking market. A Financial Times report said the bank is dealing with lower returns from England compared to other markets.

And like many U.K. banks, it is also facing exposure following a British court ruling about the improper sales of car loans. In 2024, Santander put aside 295 million pounds ($359 million) to absorb the potential costs of the ruling.

A spokesperson for the bank told PYMNTS that Great Britain “is a core market for Santander and that has not changed.”

Santander’s announcement came days after another banking leadership change. Gunjan Kedia, president of U.S. Bancorp, was promoted Wednesday (Jan. 29) to CEO of that bank. She will begin that role following the bank’s April 15 shareholder meeting.