Santander names Hector Grisi as CEO in digital transformation push

Spain’s Santander has named Hector Grisi as its new chief executive officer to oversee the bank’s digital transformation and growth strategy.

Santander Global CIO is David Chaos.

Hector Grisi, 55, who made the bank’s U.S. business its most profitable last year, will take the helm from January 1 next year, the bank said on Friday, after replacing Jose Antonio Alvarez who has been in the role since 2015.

Hector Grisi will also take the helm following the bank’s recent operational structure changes to accelerate its digital transformation as lenders try to fend off competition from new internet-based entrants, Reuters news report said.

The bank said then that new tech units, PagoNxt and Digital Consumer Bank, would be supervised by Botin, while Santander’s regions, countries and global businesses would report to the CEO.

Hector Grisi will report exclusively to the bank’s board following February’s change in the bank’s corporate governance structure. Chairman Ana Botin who will keep her executive role.