Santander Appoints Riley as US CEO, Implements Global Restructuring

Santander has appointed Christiana Riley as the new U.S. CEO, succeeding Tim Wennes, as part of a broader global restructuring aimed at simplifying operations and enhancing growth. The bank is eliminating its regional divisions established in 2019 and shifting to five global units, reflecting a strategic focus on expanding its U.S. presence in corporate and investment banking. Riley, who joined Santander in 2023, will spearhead efforts to develop a technology platform for consumer banking, including a digital bank launched in October that offers high-yield savings accounts. This restructuring comes as Santander also assesses its performance in the U.K., where returns have been lower than in other markets. Executive Chair Ana Botin expressed confidence in Riley's leadership for driving growth in this critical market. Meanwhile, in Chile, Santander announced a leadership transition with Andrés Trautmann Buc set to replace Román Blanco Reinosa as CEO in July 2025.