BOSTON, April 3, 2013 /PRNewswire/ -- Sovereign Bank, N.A., a division of Santander Holdings USA, formalized its first relationship with Massachusetts General Hospital (MGH), a leading teaching hospital, committing over $1,000,000 over the next five years supporting cancer research and care. The agreement was signed today by Jorge Moran, Santander US Country Head and Sovereign Bank President and CEO, and Dr. Peter Slavin, President of Massachusetts General Hospital (MGH).
"This is an exciting day for Sovereign Bank and Santander," said Moran. "With this, our first agreement with Massachusetts General Hospital, we proudly support crucial research activities of some of the brightest minds in the country as they work on one of the most significant healthcare challenges of our time. We're pleased to provide support to Mass General in a way that will bridge the search for a cure at these three world-class institutions while at the same time providing both comfort and care to patients in need."
Sovereign Bank will contribute to the MGH Cancer Center through a variety of initiatives including the MGH Cancer Center Fellowship. This program provides opportunities for fellows to conduct research in laboratories at MGH, Massachusetts Institute of Technology (MIT) and Harvard University.
The gift agreement establishes the Sovereign/Santander Hematology/Oncology Fellowship Program Fund for the MGH Cancer Center. This fund supports the expenses associated with fellows conducting research in the laboratories at MGH, MIT and Harvard during the research component of their programs, ultimately extending the length and breadth of their research.
The Mass General Cancer Center is among the nation's best cancer centers and widely recognized for providing comprehensive, individualized and compassionate care to both adults and children. It has consistently been ranked one of the best cancer centers in the country by US News & World Report. The MGH Cancer Center facilitates collaboration among specialized cancer experts in medicine, surgery, pathology and imaging in order to provide the best care to each patient while seeking the development of new and better treatments.
Sovereign Bank will also support the Friends of the MGH Cancer Center, a volunteer organization committed to enhancing the quality and experience of cancer patients and their families, through activities, lectures, symposiums and innovative programs. The partnership announced today will officially designate Sovereign Bank as an "Innovative Supporter" of the Friends of MGH Cancer Center. In addition to its commitment to the Friends of the MGH Cancer Center, Sovereign Bank will support a range of other programs and services, including fundraising initiatives and local sports team appearances benefiting the MGH Cancer Center and the patients they serve.
"The generosity of organizations such as Sovereign Bank and Santander Universities program allows our fellows to focus their energy where it can have the greatest impact – continuing the tremendously valuable work in cancer research," said Slavin. "As investigators search for a cure and improved treatments for cancer, providing support to patients and their families is vitally important. We're grateful that Santander understands and shares a commitment to these efforts."
Funding for both the MGH Cancer Center fellowships and Friends of the MGH Cancer Center is provided through the US arm of Santander Universities program. The Santander Universities was established in 1996 and is the primary corporate giving focus of Santander. Through local affiliates such as Sovereign Bank, Santander Universities has forged long-term partnerships with more than 1,040 universities in 20 countries. Last year, the program supported more than 4,500 new projects, and 37,712 scholarships. Santander Universities US was introduced in the United States in 2009 through Sovereign Bank and now includes agreements with 26 universities and colleges. In 2012, the US program funded over 950 scholarships totaling over $8.5 million.
"Our commitment to the Massachusetts General Hospital Cancer Center represents our first collaboration with a US academic medical center and furthers Santander's longtime mission to improve the lives of citizens through higher education," said Eduardo Garrido, US director of the Santander Universities program.
About Sovereign Bank
Sovereign Bank, N.A., a division of Santander Holdings USA, is among the top 25 banks in the United States, with principal presence in Connecticut, Delaware, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. Sovereign Bank is focused on serving the needs of its customers by providing high quality service and a range of comprehensive financial solutions through its 721 branches, 2,268 ATMs and nearly 8,900 team members. For more information about Sovereign Bank, visit http://www.sovereignbank.com or call 877-768-2265. Member FDIC.
About Santander Holdings USA
Santander Holdings USA, Inc. is a wholly owned subsidiary of Banco Santander, S.A., and parent company of Sovereign Bank, N.A. Banco Santander is a retail and commercial global bank, with a presence in 10 main markets: U.S., Germany, UK, Poland, Brazil, Mexico, Chile, Argentina, Spain and Portugal. Founded in 1857, Santander has more than 102 million customers, approximately 14,392 branches – more than any other international bank – and 186,763 employees. Santander was recently recognized as the Best Global Bank in 2012 by Euromoney magazine. For more information on Santander, visit http://www.santander.com.
SOURCE Sovereign Bank, N.A.