Great to welcome our Santander US Board to Santander this week, the home of our historic HQ and the city where we were founding in 1857.
For the past decade, we have prioritised capital allocation to the Americas, including the United States. 🇺🇸
On Tuesday, we received ECB approval for our combination with Webster, following OCC approval last month and the earlier approval of Webster’s shareholders. We are now nearing the end of the process.
Our combination with Webster reflects Santander’s long-term commitment to investing in the United States and our confidence in the country’s future.
Together, we will serve close to 8 million customers, employ more than 15,000 people, and support economic growth through retail and commercial banking, consumer finance, capital markets and community investment.
Our planned $12 billion investment builds on decades of commitment to the U.S., including the launch of Openbank (now available nationwide for high-yield savings accounts and already with $11 billion in deposits — do check it out!), the modernisation of our branch network, and continued investment across our businesses.
We look forward to bringing new products and services to Santander and Webster Bank customers, supporting the communities we serve, and creating sustainable, growing value for our shareholders.
A huge thank you to Tim Ryan, who has chaired our Santander US Board since 2015, and to all our Board members for their support over so many years. And thank you to Christiana Riley and our thousands of Santander colleagues across the United States - from Miami to Dallas, New York, Boston and beyond - whose hard work has brought us to this exciting milestone.