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Santander hands over the reins to Pedro Castro to be the regional head of Europe

Date: February 28, 2024 Time: 17:47:43

Banco Santander has appointed Pedro Castro e Almeida, current CEO of its Portuguese subsidiary, as the new regional head of Europe, replacing António Simões, who will leave the entity to become CEO of the Legal and General Group, as reported on Thursday by the entity in a note sent.

This appointment will take place after the summer months, starting on September 1, at which time it is estimated that the appointment of the position will be subject to the necessary approvals. Likewise, the current regional manager must maintain his current responsibilities until that date to ensure an adequate transition.

In his new role, Castro e Almeida will be responsible for Santander’s business in Europe Hector Grisi. Castro e Almeida will maintain his current position as CEO of Santander Portugal. The bank’s CEOs in Spain, the UK and Poland will report directly to you.

More than 10 years working for Santander

The new regional head of the bank in Europe joined Santander Portugal in 1993. In said entity he has held the position of CEO for the last five years. “During this period, the bank has carried out a great transformation, simplifying and automating operational tasks, and becoming the most efficient and profitable entity in the country,” the entity highlighted.

Before becoming CEO of Santander Portugal, Castro e Almeida was a director of the bank for more than 10 years and went through various areas of the bank. For his part, António Simões joined Santander in 2020 and, under his leadership, the bank made progress in integrating its activities in Europe and in the construction of One Santander.

“All of this has resulted in ordinary profit in Europe advancing from 1,138 million euros in 2020 to 3,810 in 2022, a trend that has continued into the first quarter of 2023, with a 19% year-on-year profit increase”, Highlight the entity.

Likewise, the bank underlines that the profitability (RoTE, return on tangible capital) of the region has gone from 3% in 2020 to 13% in the first quarter of 2023, due to the growth of the franchise, whose customer base increases in a million in the last year.

Castro e Almeida excited about taking the reins of Europe

The president of Banco Santander, Ana Botín, has appreciated the appointment of Castro e Almeida and thanked Simões for his work. “Pedro has done a great job leading Santander Portugal. With him at the helm, customer satisfaction, efficiency and profitability have improved significantly,” said Botín, who added that Castro e Almeida is “the ideal person to lead Europe and continue the good work” carried out by Simões with One Santander.

For his part, Castro e Almeida has been “very excited” about the opportunity to lead the European business of Banco Santander. “In recent years, we have made great progress to build One Santander in the region and we have an extraordinary team. We will continue working to achieve the goals that the group set for itself on the last Investor Day,” he added.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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