Santander Bank Taps Héctor Grisi for Group CEO

Santander Bank named Héctor Grisi as its latest group CEO, effective Jan. 1, as the bank continues to advance its digital transformation plans, according to a press release on Friday (June 17).

Grisi is currently CEO of Santander Mexico and head of North America. He is succeeding José Antonio Álvarez, CEO since 2015 and CFO from 2004 to 2015. He started with the bank in 2002. Following the transition, Álvarez will remain on the board as a non-executive vice-chair.

Banco Santander Executive Chair Ana Botín said Álvarez has made an “exceptional contribution” during the 20 years he has been with the bank.

Since 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, according to the release. Revenues increased by over 35% in constant euros over the same period, and the bank added close to 40 million new customers.

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Botín also pointed to Grisi’s experience and expertise “and a proven ability to lead in a collaborative way” that makes him an “outstanding successor to José Antonio.”

Grisi is a 35-year banking veteran. Before Santander, he was with Credit Suisse for 18 years, where he held numerous senior positions, including president and CEO of Credit Suisse Mexico.

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Santander said it serves 155 million customers as of March 31.