Santander Holding USA and Santander Consumer USA have informed on Monday of several changes in its structure and have announced the appointment of Tim Wennes as CEO of Santander US.

The financial institution has also announced the appointment of Mahesh Aditya as CEO of Santander Consumer USA after having been responsible for risks of Santander US since May 2018.

Wennes replaces Scott Powell, who will leave the group to begin a new professional career.

According to a statement issued by Santander, these changes culminate a period of “remarkable transformation” that has taken place over the past four years in which the company has focused on issues such as board oversight, risk management and capital planning.

Wennes joined Santander last September as CEO of Banco Santander N.A. (SBNA), a position he will continue to hold.

Among his duties, the new CEO will take charge of all of Banco Santander’s businesses in the United States, execute the company’s growth plans and strategies and complete the bank’s ongoing regulatory improvement process.

On the other hand, Aditya has “great experience” in consumer finance and has held managerial positions in risk management and supervision at Visa, Citibank, JPMorgan Chase and Capital One.

Aditya, who until now was responsible for risks in Santander US and SBNA, will be replaced by Sarah Drwal, who has experience in the area of risks, fraud, corporate governance and strategy in other entities such as JPMorgan Chase and Capital One.

Finally, the financial director of Santander US and SBNA, Juan Carlos Álvarez, has been appointed director of Santander Consumer USA.

About Wennes and Aditya, the president of Banco Santander, Ana Patricia Botín, has assured in the note that they are “great leaders, with a lot of knowledge and talent” to lead the next phase of their banking strategy.

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