Banco Santander : Sheila Bair resigns from Santander's board of directors following her appointment as president of Washington College
July 31, 2015 at 04:16 pm IST
Share
Madrid, July 30, 2015. Sheila Bair has resigned as a member of Banco Santander's board of directors effective October 1st, 2015 following her appointment as president of Washington College. The board expressed its gratitude to Ms. Bair for her dedication to the board since she joined in January, 2014 and in particular her contribution to the board's Risk Supervision, Regulation and Compliance Committee.
Ana Botín, group executive chairman of Banco Santander, said: "Sheila's contribution to our board over the past few years has been invaluable and we will miss her. We have learned from her regulatory and U.S. perspective and we are a better bank for her service. Given the changes at Banco Santander in the past 10 months, I would like to acknowledge how much I have personally valued her advice and counsel and look forward to continue to work together in other ways in the future."
Sheila Bair said: "My position at Washington College is very much a full-time obligation. As a consequence, I am cutting back significantly on my various boards and advisory roles. Most importantly, I am announcing my decision to resign as a board member of Banco Santander, effective the end of the third quarter. I deeply value my experience on the board over the past year and a half. I believe Santander's risk management culture and strong customer focus will continue to serve it well, as it has over the past century and a half. Ana Botín's focus on banking services that are simple, personal and fair has placed the bank in a solid position to strengthen and grow customer relationships and trust." Sheila Bair has also announced her decision to step down from the board of the Center for Responsible Lending and to resign as a Chair of the Systemic Risk Council at the end of 2015.
Sheila Bair will take up her role as president of Washington College effective August, 1st. Washington College was founded in 1782 and was the first college chartered by the government of the United States of America.
Banco Santander, S.A. is Spain's largest banking group. The activity is organized into three sectors:
- commercial banking: retail banking activities and specialized financial services (consumer loans, mortgages, etc.);
- investment, financial and market banking: classic and specialized financing (financing acquisitions, projects, etc.), financial engineering (consulting on mergers and acquisitions, stock transactions, etc.), intervention in the stock, rate and exchange markets, etc.;
- asset management and private banking. The group also develops bank insurance activities through Santander Seguros and Banesto Seguros.
At the end of 2023, the group managed EUR 1,047.2 billion in current deposits and EUR 1,036.3 billion in current credits.
The products and services are marketed via a network of 8,518 branches worldwide.