The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.
Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.
Neptune Financial, an online business lender, will help the global bank reach commercial customers it was missing before and could ultimately be a $1.5 trillion opportunity, an HSBC executive says.
The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.
Santander taps JPMorgan Chase exec Colleen Canny to lead retail network; can Trump actually fire Fed's Powell?; will 2019 bring long-awaited reform of Fannie Mae, Freddie Mac?; and more from the past two week's most-read stories.
