Carlos Garcia Appointed Chief of Staff for Sovereign Bank

BOSTON, June 27, 2011 /PRNewswire/ -- Sovereign Bank, a wholly owned subsidiary of Banco Santander, has named Carlos Garcia to the position of Chief of Staff reporting directly to Jorge Moran, President and CEO of Sovereign Bank and Country Head of Santander businesses in the United States.  Garcia will also hold the position of Chief Corporate Affairs and Communications Officer at Sovereign Bank.

Most recently, Garcia was appointed by the Governor of Puerto Rico as Chairman of the Board, President and CEO of the Government Development Bank for Puerto Rico, the fiscal agent, financial advisor, capital markets coordinator and bank of the Government of Puerto Rico.  Mr. Garcia also presided over the fiscal restructuring and stabilization board created by law to safeguard Puerto Rico's credit rating and achieve fiscal balance.  During his public service tenure, the Government of Puerto Rico improved its credit ratings and coordinated with federal regulators the implementation of a financial rescue plan for its banking system.

Garcia brings extensive global experience to the role of Chief of Staff, having served 15 years in financial services, 11 years of those at Santander Puerto Rico in a series of executive management roles from 1997 to 2008 that included President and COO of Banco Santander Puerto Rico.

"Carlos Garcia's experience in both the private and public sector will serve as an asset to the bank.  Garcia will play a critical role as we continue to strategically position and expand Sovereign Bank in the Northeastern United States," according to Jorge Moran.

About Sovereign and Santander

Santander Holdings USA, Inc. (SAN.MC, STD.N) is a wholly owned subsidiary of Banco Santander, S.A. and is the holding company for Sovereign Bank and Santander Consumer USA.  Sovereign is a retail and commercial bank, headquartered in Spain, with a presence in ten main markets: Spain, Portugal, Germany, the UK, Poland, Brazil, Mexico, Chile, Argentina and the U.S.  Founded in 1857, Santander has 92 million customers, approximately 14,000 branches –– more than any other international bank –– and over 170,000 employees.  For more information on Santander, visit http://www.santander.com.

Sovereign Bank, a subsidiary of Banco Santander, S.A., is a financial institution with principal markets in the northeastern United States.  Sovereign has more than 700 branches, nearly 2,300 ATMs, and approximately 8,000 team members. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 877-SOV-BANK.

SOURCE Sovereign Bank



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