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The chairman and chief executive of Santander Consumer USA Holdings has resigned, as the subprime auto lender remains under scrutiny for its lending and securitization practices.
July 2 -
WASHINGTON The Federal Reserve Bank of Boston reached a broad agreement with the U.S. affiliate of Spanish powerhouse Banco Santander calling for improvements in internal risk management, liquidity and capital adequacy controls.
July 7 -
JPMorgan Chase, Morgan Stanley and Goldman Sachs were each forced to resubmit their capital plans in order to pass the Fed's CCAR stress test, while Bank of America was publicly faulted for weaknesses in its capital planning process. While some saw that as a bad sign, others contended the banks appear more comfortable in pushing the limits of the stress testing process.
March 11 -
Blythe Masters, the former JPMorgan Chase executive, has joined the advisory board of the Chamber of Digital Commerce, a Bitcoin trade association created to represent the young industry's interests in Washington.
July 1 -
Digital Asset Holdings, the blockchain technology startup led by JPMorgan Chase alum Blythe Masters, is expanding its capabilities by acquiring other such firms.
June 25
Santander Consumer USA Holdings named Blythe Masters nonexecutive chairman, replacing the executive who quit the post less than two weeks ago and a week after the subprime auto lender's parent company was hit with a regulatory order.
Masters, the chief executive of blockchain-technology startup Digital Asset Holdings, joined Santander as chairman Wednesday. She succeeded Thomas Dundon, who left the lender on July 2 to "pursue new opportunities." Dundon was also chief executive of Santander Consumer, a company he co-founded and eventually sold to the Spanish banking company Banco Santander.
Stephen Ferriss, who had been interim chairman since Dundon's departure, will remain on the board.
"Blythe Masters' deep understanding of the financial markets and emerging bank technologies, coupled with her regulatory expertise, make her the right choice to lead" the board, said Jason Kulas, chief executive of Santander Consumer.
The 46-year-old Masters is a former executive of JPMorgan Chase, where she most recently headed the global commodities unit. Masters this month
The Federal Reserve Bank of Boston last week
Santander was one of only two banks to fail the qualitative portion of the Fed's
Also on Wednesday, Santander Consumer named six new directors: José García Cantera, Victor Hill, M-nica L-pez-Monís Gallego, Javier Maldonado, Robert J. McCarthy and William Rainer. Each replaced a director whose term had expired or who retired.
