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Bruce Jackson Is Named Head of the Santander US Auto Business and CEO of Santander Consumer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Santander Holdings USA has appointed Bruce Jackson as head of the Santander US Auto business and CEO of Santander Consumer USA, effective March 2023. He succeeds Mahesh Aditya, who will become Banco Santander's Chief Risk Officer in Madrid. Jackson aims to enhance dealer and manufacturer experiences and increase market share. Previously, he led Chrysler Capital and held roles at major finance companies. Santander US is a key market for Banco Santander, delivering sustainable financial results.
Positive
Appointment of Bruce Jackson as head of the Santander US Auto business is expected to enhance operations.
Jackson's experience in auto finance may lead to increased market share and improved dealer relationships.
Negative
None.
BOSTON--(BUSINESS WIRE)--
Santander Holdings USA, Inc. (“Santander” and “Santander US”) today announced that, effective March 2023, Bruce Jackson will assume the role of head of the Santander US Auto business and CEO of Santander Consumer USA Inc. (“Santander Consumer”), reporting to Santander US CEO, Tim Wennes. Jackson succeeds Mahesh Aditya who is taking on the role of Banco Santander's Group Chief Risk officer in Madrid, subject to customary regulatory approvals.
In this capacity, Jackson will be responsible for the Santander US Auto business with a continued focus on enhancing the dealer and manufacturer experience, increasing the Santander US Auto market share, and executing on the Santander US growth strategy. Most recently, Jackson served as President of Chrysler Capital and has previously held senior auto finance leadership roles at JP Morgan, Ally Financial and Bank of America, among others.
“This appointment underscores the depth of leadership across the Santander US region. With his combination of industry knowledge, dealer and manufacturer relationships and leadership experience, Bruce is well positioned to continue to build upon the strong position that the Santander US Auto business holds in the marketplace,” said Tim Wennes, Santander US CEO.
Santander US remains a strategically and financially important market for Banco Santander, continuing to deliver attractive, sustainable results through market cycles.
About Santander US
Santander Holdings USA, Inc. is a wholly owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), a global banking group with 159 million customers in the U.S., Europe and Latin America. As the intermediate holding company for Santander’s U.S. businesses, SHUSA is the parent organization of financial companies with approximately 14,600 employees, approximately 5 million customers, and $160 billion as of December 2021. These include Santander Bank, N.A., Santander Consumer USA Holdings Inc., Banco Santander International, Santander Securities LLC, Santander Investment Securities Inc., and several other subsidiaries. Santander US is recognized as a top 10 auto lender, a top 10 multifamily lender, and a top 20 commercial real estate lender, and has a growing wealth management business with more than $41 billion in assets under management. For more information on Santander US, please visit www.santanderus.com.
Bruce Jackson has been appointed as the new CEO of Santander Consumer USA effective March 2023.
What role did Mahesh Aditya take on after leaving Santander US Auto?
Mahesh Aditya has been named Banco Santander's Chief Risk Officer in Madrid.
What is the significance of Bruce Jackson's appointment for Santander's US Auto business?
Jackson's appointment is significant as it aims to improve dealer and manufacturer experience and increase Santander's market share in the auto sector.
What are Santander US's market strategies following this leadership change?
Santander US plans to focus on enhancing dealer relationships, increasing market share, and executing growth strategies under Jackson's leadership.
When did Bruce Jackson start his role at Santander US?
Bruce Jackson officially assumed his role at Santander US in March 2023.
