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Santander UK is reportedly considering former Treasury chief Tom Scholar as its new chair following William Vereker's resignation in January. The bank is currently facing profitability challenges and is in the process of closing 95 branches, impacting 750 jobs. Santander has not confirmed Scholar's appointment, stating that a thorough selection process is underway.
Santander UK has appointed former Treasury chief Tom Scholar as its new chair, according to Sky News. Banco Santander, Spain's largest banking group, operates in commercial banking, investment banking, and asset management, managing over EUR 1 trillion in deposits and credits as of the end of 2024 through a global network of 8,011 branches.
Sir Tom Scholar, the former Treasury chief dismissed by Liz Truss, is poised to become the new chairman of Santander UK, pending regulatory approval. His appointment comes amid speculation about the bank's future, including potential mergers, although Santander's group executive chair has indicated the UK remains a core market. Scholar, respected for his role during the 2008 financial crisis and the COVID-19 furlough scheme, will collaborate with CEO Mike Regnier if confirmed.
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santander uk considers tom scholar for chairman position amid branch closures
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11:05 05.04.2025
santander uk appoints tom scholar as new chair of the board
11:05 05.04.2025
santander uk considers sir tom scholar for chairman position amid speculation
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10:11 05.04.2025
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