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No fears at Santander departures

Brokers hope the raft of executive level resignations at Santander will not hamper the bank or affect its service to customers and intermediaries.

Last week, chief credit officer Iain Laing, who has been with the Spanish bank for six years, announced he is joining Nationwide as its chief risk officer.
Executive director for retail distribution and intermediaries Alison Brittain also announced she has quit to join Lloyds Banking Group as group director for the Lloyds TSB and Bank of Scotland retail banks.

In January, executive director of risk Juan Colombas joined Lloyds as chief risk officer.

In March, UK chief executive Antonio Horta-Osorio moved to Lloyds as group chief executive and Santander chief financial officer Antonio Lor-enzo joined Lloyds as head of wealth management and international.

First Action Finance head of communications Jonathan Cornell says the bank has the systems in place to cope with the departures.

He says: “Banks tend to be quite good at succession planning. There will be a rich pool of talent at Santander looking for their next move. The fact that a few executives have gone I do not think will have an impact on the bank at all.”

London & Country head of communications David Holl-ingworth says: “I would not expect it to make much of a difference. Santander has done well generally in the market over the last few years and will be determined to make sure that continues.”


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