Santander Bank Unifies U.S. Commercial Businesses, Names Lee Head

Santander Bank unified its commercial and industrial business and its commercial real estate and vehicle financing business into one commercial bank in the United States under the leadership of Michael Lee. Lee joined Santander in 2009, and most recently served as managing director and head of Commercial Real Estate and Vehicle Finance. He will continue to report to Tim Wennes, Santander U.S. CEO and country head, and Santander Bank president and CEO.

In his expanded role as senior executive vice president and managing director of Commercial Banking, Lee will oversee and provide strategic direction for the bank’s commercial real estate construction business, community development finance and investments, commercial equipment and vehicle finance, international banking, middle market and corporate banking, multifamily term lending, not-for-profit and government banking, and treasury and deposit banking.

The new combined, client-centric organization is a natural extension of the broader Santander U.S. strategy to simplify its structure and processes, transform the way it serves clients and deliver sustained, profitable growth.

“Mike has spent more than 40 years in banking, which includes leadership roles with Santander and its predecessor companies. He knows the ins and outs of our businesses, and in addition to his long history at the bank, he brings strong industry and client-focused experience. His deep expertise in leveraging our global capabilities and local coverage teams to deliver growth across all lines of commercial banking will position him well to lead our newly integrated team,” Tim Wennes, Santander U.S. CEO and country head, and Santander Bank president and CEO, said.

“Santander’s long-term vision for the Commercial Bank and alignment to our strategy for the U.S. business will be extremely valuable as we continue to modernize and transform to provide the best holistic banking solutions and experience for our clients,” Wennes said.

Lee has spent the majority of his more than four-decade tenure within financial services in lending and risk roles and has held various executive positions with Bank Boston, Fleet and Sovereign Bank. He is an active supporter of his local community and has served on numerous civic and community boards. He is currently a member of the Massachusetts Business Roundtable, Providence Chamber of Commerce, Rhode Island Bankers Association, and a trustee of La Salle Academy.

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