Héctor Grisi nominated to succeed José Antonio Álvarez as CEO of Banco Santander

Since Mr Álvarez was appointed CEO, the bank has increased its Return on Tangible Equity (RoTE) from 11% in 2014 to over 14% in the first quarter of 2022, while growing its CET1 FL capital from 8% to over 12%. The bank gained nearly 40 million new customers in the same period and saw its revenues increase by 35% in constant euros. This brought the bank’s total customer base to 155 million as of 31 March 2022.

Furthermore, thanks to ongoing digital and commercial transformation, the bank has achieved a top-3 ranking for customer satisfaction (Net Promoter Score) in nearly all the bank’s core markets, while maintaining one of the best efficiency ratios of any international bank at 45%. This performance has enabled the distribution of €15 billion in cash dividends over the period.

Santander Mexico’s CEO, Mr. Grisi, joined Santander in 2015. Since then, he has completed a transformation of the bank’s business in the country, achieving an adjusted return on tangible equity of 31% as at 31 March 2022, growing the number of active customers by nearly 50% to close to 10 million and doubling the number of loyal customers, while establishing leading market position in SMEs, Mid-Market Corps, Mortgages and Project Finance.

In 2019, he was appointed head of the Santander group’s North America region, covering both Mexico and the US. The US was the most profitable market in the group in 2021 with $2.7 billion generated in 2020, up from $648 million in 2018. Furthermore, the connectivity within the region has improved significantly, leveraging cross boarder opportunities for revenue generation, while encouraging greater efficiency across the markets, reflecting the bank’s goal to build ‘One Santander’. As a result, the region’s profit has nearly doubled since 2019.

Mr Grisi’s professional career spans over 35 years. Before joining Santander, he spent 18 years at Credit Suisse, where he held a range of senior positions, including head of Investment Banking for Mexico, Central America, and the Caribbean, then President & CEO of Credit Suisse Mexico. He received his education in Mexico and Canada. He holds a Bachelor of Arts in Finance from Iberoamericana University.

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