Santander US Announces Closures in Observance of Juneteenth

Rhea-AI Summary

Santander US will close its offices and branches early on June 19, 2020, to honor Juneteenth, the oldest national commemoration of the end of slavery in the United States. CEO Tim Wennes emphasized the importance of reflecting on racial inequities during this time. Employees are encouraged to engage with the Black community and support organizations aimed at fostering change. This closure aligns with the company's commitment to racial equality, as it reviews its practices in partnership with its Black Employee Network.

Positive

• Demonstrates commitment to racial equality and social justice.
• Encourages employee engagement and awareness of racial issues.

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• None.

BOSTON, June 15, 2020 /PRNewswire/ -- Santander US announced today that it will close its offices and branches at noon on Friday, June 19, in recognition of the oldest national commemoration of the end of slavery in the United States.

"This year, Juneteenth is especially moving as our nation wrestles with inequities and injustices that have persisted throughout its history, with renewed urgency," said Santander US CEO Tim Wennes. "So, on Friday, we will close our doors and operations early to mark this important day and to provide each of us with an opportunity to reflect on what role we will play in making our country, community and company places where equality and justice prevail."

Santander US employees are encouraged to take this time to listen to what Black Americans are saying, to understand and appreciate what it must be like to suffer discrimination or injustice, to give time and/or financial support to organizations dedicated to bringing about real change, and to engage in meaningful conversations with friends, family and colleagues.

The early release is one of a number of actions Santander US is taking, in partnership with its Black Employee Network (BEN), to redouble its commitment to racial equality and justice. Santander US is conducting a thorough review of its business, people, philanthropic and community investment practices to ensure alignment with these goals.

Santander Holdings USA, Inc. (SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), a global banking group with more than 145 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 six financial companies with approximately 17,000 employees, 5.2 million customers and assets of approximately $150 billion as of March 31, 2020. These include Santander Bank, N.A., Santander Consumer USA Holdings Inc. (NYSE: SC), Banco Santander International of Miami, Banco Santander Puerto Rico, Santander Securities LLC of Boston, Santander Investment Securities Inc. of New York, and several other subsidiaries.

Media Contacts:       

Laurie Kight
Santander US
214-801-6455 
laurie.kight@santander.us

Investor Relations:

Evan Black
Santander US Investor Relations
800-493-8219
InvestorRelations@santanderconsumerusa.com

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SOURCE Santander Holdings USA, Inc.

FAQ

When will Santander US close its offices in observance of Juneteenth?

Santander US will close its offices and branches at noon on June 19, 2020.

What is the significance of Juneteenth for Santander US?

Juneteenth commemorates the end of slavery in the United States and serves as a time for reflection on racial inequities.

What initiatives is Santander US taking regarding racial equality?

Santander US is reviewing its business and philanthropic practices in partnership with its Black Employee Network to enhance its commitment to racial equality.

What does Santander US encourage its employees to do on Juneteenth?

Employees are encouraged to listen to the Black community, support organizations for change, and engage in meaningful conversations.

What is the parent company of Santander US?

Santander US is a wholly-owned subsidiary of Banco Santander, S.A. (NYSE: SAN).