Banco Santander has named the leadership team for its combined U.S. business following its pending $12.3 billion acquisition of Webster Financial Corp., detailing key roles and highlighting which Webster executives will stay on and which are expected to depart.
In communications disclosed Wednesday in securities filings, Santander said corporate function heads will report to U.S. CEO Christiana Riley, and in some cases to Santander Bank NA CEO John Ciulla, who is the current CEO of Webster Financial.
Luis Massiani, currently president and chief operating officer of Webster Financial, will serve as chief operating officer of Santander U.S., overseeing integration and leading technology and operations.
Reporting to him will be Ignacio Sarquis as CIO for retail, commercial and digital banking, and Vikram Nafde, who joins from Webster, as chief technology officer. Ben Krynick will also take on a senior role supporting integration.
Several Webster executives are being retained in key roles. Jason Soto will become chief credit risk officer for the retail and commercial bank, Peter Kapp will serve as head of strategic execution, and Kristy
Berner will become chief legal officer. Marissa Weidner will join Santander’s corporate affairs team, while Neal Holland will remain through a transition period supporting integration of finance functions.
At the same time, several senior Webster leaders are expected to exit. Chief Risk Officer Jason Schugel will transition out following the close, while Chief Human Resources Officer Javier Evans and Chief Audit Executive Elzbieta Cieslik plan to retire.
Santander executives will fill many top roles, including JC Alvarez as chief financial officer, RL Prasad as chief risk officer and Pablo del Campo leading strategy.
Earlier business-line appointments
The latest leadership decisions follow earlier announcements in April outlining how business lines will be structured after the deal closes.
Under that plan, Webster’s operations will be integrated into Santander’s global business segments, primarily within retail and commercial banking.
Several Webster executives were named to lead major business units, including Chris Motl, who will lead combined commercial banking operations, and Chad Wilkins, who will oversee healthcare financial services.
James Griffin will take on a senior retail role overseeing national retail distribution and consumer lending, while digital banking will be led by Drew Burchard.
Other major business lines — including corporate and investment banking, auto finance and private banking — will continue under existing Santander leadership.
The companies said integration planning is being coordinated through a joint steering committee and integration management office as they prepare for closing.
Until the transaction is completed, both companies will continue to operate independently.
