{
}
Scotiabank has appointed Pablo Elek, previously a top executive at HSBC's Mexico unit, as CEO of its Mexican operations, effective May 15. This move aligns with the bank's strategy to focus on North America, as it shifts capital away from Latin America, including the transfer of operations in Colombia, Costa Rica, and Panama to Banco Davivienda. CEO Scott Thomson noted that while the bank is cautious about U.S. tariffs, it remains committed to its North American corridor strategy.
Banco Santander SA is planning to sell a portfolio of approximately €462 million ($498 million) in Spanish mortgages. The bank has engaged Alantra Partners SA for advisory services on the deal, which includes both performing and re-performing loans. Potential investors have begun receiving initial marketing information, with the process expected to unfold over the coming weeks.
Scotiabank has appointed Pablo Elek, previously a top executive at HSBC's Mexico unit, as CEO of its Mexican operations, effective May 15. This move comes as the bank shifts its focus towards North America, having already transferred operations in Colombia, Costa Rica, and Panama to Banco Davivienda. Scotiabank's capital strategy reflects a significant emphasis on the U.S. and Canada, with Mexico contributing less than 10% to its earnings.
Scotiabank has appointed Pablo Elek as the new CEO of its Mexican unit, effective May 15. Elek, previously a top executive at HSBC's Mexico operations and with experience at Banco Santander, replaces Adrian Otero as the bank shifts its focus towards North America.
Banco Santander SA (NYSE:SAN) saw its shares rise by 3.78% to $7.14 on Tuesday, driven by a new partnership with Verizon Communications Inc. (NYSE:VZ) to launch the Verizon + Openbank Savings account. This initiative aims to enhance customer savings with a higher-yield account and potential savings on Verizon bills, while expanding Santander's presence in the U.S. market. Despite a broader market decline, SAN ranked 8th among the top performers of the day.
Banco Santander will close 95 branches in the UK and put around 750 jobs at risk as part of efforts to enhance performance. The UK unit has faced challenges, prompting the bank to consider shifting resources to more profitable areas, particularly in the US and Latin America. Chairman Ana Botin indicated that divesting assets is not currently necessary.
Banco Santander SA is set to close 95 branches in the UK and place approximately 750 employees at risk of redundancy as part of its strategy to enhance performance. The bank currently operates 444 branches across the country.
Banco Santander SA will continue to prioritize its operations in the US and Latin America, despite potential growth opportunities in Europe, according to Chairman Ana Botin. The bank is expanding its presence in the Americas, including the successful launch of its digital bank, Openbank, which has attracted nearly 100,000 customers in the US. While acknowledging the positive impact of increased public spending in Europe, Botin emphasized that the focus remains on the Americas.
Banco Santander SA will continue to prioritize its operations in the US and Latin America, according to Chairman Ana Botin. While acknowledging the potential for growth in Europe, she emphasized that the bank's focus will remain more on the Americas despite significant government investments in Europe.
UBS Group AG has removed references to "DE&I" (diversity, equity, and inclusion) from its 2024 sustainability and annual reports, reflecting the impact of backlash against diversity initiatives, particularly from the Trump administration. This follows a trend among European banks, with others like Banco Santander and ING also reassessing their diversity strategies amid conflicting ESG regulations. UBS maintains its commitment to a diverse workforce while adapting to legal requirements across different jurisdictions.
Banco Santander SA
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Scotiabank appoints Pablo Elek as CEO of Mexico unit
Mexican Peso
Canadian Dollar
United States Dollar
Banco Santander SA
Banco Davivienda SA
HSBC Holdings plc
MEX
CAN
PAN
CRI
COL
USA
Scott Thomson
Pablo Elek Hansberg
Michael O'boyle
Adrian Otero
Show more
13:07 26.03.2025
santander seeks to sell 462 million euros in spanish home loans
08:55 26.03.2025
Scotiabank appoints Pablo Elek as CEO of Mexico unit
Canadian Dollar
United States Dollar
Colombian Peso
HSBC Holdings plc
Banco Santander SA
Banco Davivienda SA
MEX
CAN
PAN
CRI
COL
USA
Adrian Otero
Pablo Elek Hansberg
Show more
21:45 25.03.2025
Scotiabank appoints Pablo Elek as CEO of Mexico unit
18:00 25.03.2025
banco santander partners with verizon boosting stock by nearly four percent
15:13 19.03.2025
santander to close 95 uk branches and cut 750 jobs
09:53 19.03.2025
Banco Santander to close 95 UK branches and cut 750 jobs
09:14 19.03.2025
santander prioritizes americas over europe despite potential growth in region
10:33 18.03.2025
santander prioritizes americas over europe despite potential growth investments
09:00 18.03.2025
ubs removes diversity references from annual report amid political backlash
15:23 17.03.2025
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
Central Bank Actions
GDP Growth & Recession Forecasts
CEO Changes
Global Trade Developments
Industry Mergers & Acquisitions
Financial Scams and Security
Market Analysis and Predictions
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Supply Chain Management
Domestic Politics
Workplace Trends
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Bank of America Corporation
Barclays PLC
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Credit Suisse Strategic Income I
AXA SA
Safran SA
Banco Santander, S.A.
Novartis AG
NVIDIA Corporation
Swiss Re AG
Beazley plc
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Canadian Dollar
Australian Dollar
United Arab Emirates Dirham
Saudi Riyal
South Korean Won
Danish Krone
Offshore Chinese Yuan
Hong Kong Dollar
Mexican Peso
Indonesian Rupiah
Malaysian Ringgit
Vietnamese Đồng
People: