Sovereign Bank Together With Santander Universities Global Division Announce Agreements With Three Boston-Area Universities

BOSTON, May 3 /PRNewswire/ -- Massachusetts Institute of Technology (MIT), Northeastern University and Tufts University signed agreements on April 29 with Sovereign Bank, which is part of Banco Santander. The bank, with the support of Santander Universities Global Division, will provide financial support for different projects of the three universities to advance Santander's goal of expanding knowledge and experience throughout the world.

"The agreements we are signing are very important as many universities worldwide will benefit from them," said Banco Santander Chairman Emilio Botin. "MIT, Northeastern and Tufts all have a strong commitment to excellence, innovation, creative learning and research."

"Through its support of literally hundreds of colleges and universities around the globe, Santander has long demonstrated a powerful belief in the connection between higher education, innovation and vibrant economic growth," said MIT President Susan Hockfield. "We are delighted to have the support of Santander Universities in advancing MIT's mission of education and research in Brazil, one of the world's most dynamic regions."

"We are happy to partner with Santander to further our relationship with leading universities in Brazil," said Joseph Aoun, President of Northeastern.

"The diverse universities that make up the Talloires Network are united by a shared commitment to advancing the civic roles and social responsibility of our institutions," said Lawrence S. Bacow, President of Tufts University and Chair of the Talloires Network. "The energetic students supported by the Network — many of them in the developing world — bring enthusiasm and talent to projects that are changing their communities.  We are grateful that Santander Universities share the Talloires Network's commitment to supporting social programs driven by higher education.  Our partnership reflects a natural synergy and will benefit our shared global community."

Through its Santander Universities Global Division, the financial institutions of Banco Santander have forged long-term partnerships through collaboration agreements in academic, technological and financial fields with more than 800 universities across four continents. Supporting over 3,500 teaching, research and technology projects, Santander Universities work to respond to the economic and financial needs of the universities. Santander Universities USA was introduced in the United States in 2008 through Sovereign Bank.

The agreements with Santander Universities USA will support the following projects and initiatives:

• MIT: The agreement will expand MIT's MISTI (MIT International Science and Technology Initiatives) program to Brazil.  The program – which will promote the exchange of knowledge and mutual learnings between MIT and Brazil – will be based on internships, seed funds for research collaborations, the development of courses on Brazil and the Portuguese language, and an annual Brazil conference.
• Northeastern:  The agreement will support the expansion of Northeastern's Bachelor of Science in International Business Brazil Program (BSIB). The BSIB program – which offers students the opportunity to train for an international career by living, studying, and working abroad – will be expanded to Brazil.
• Tufts: The agreement will support initiatives of the Talloires Network, an international association of 164 institutions in 55 countries committed to strengthening the civic roles and social responsibilities of higher education. Tufts and Innovations in Civic Participation serve as secretariat for the Talloires Network. Santander will also enhance the Talloires Network by connecting the Santander Universities community to the Network's mission and goals.

About Santander Universities

Banco Santander's commitment to progress finds its expression in the Santander Universities Global Division, whose activities form the backbone of the bank's social action and enable it to maintain a stable alliance with the academic world in Latin America, China, USA, Spain, Morocco, Portugal, United Kingdom, and the Russia. 

Santander Universities Global Division is the channel through which Banco Santander supports the higher education sector in these countries in such areas as teaching and research, international cooperation, knowledge and technology transfer, entrepreneurial initiatives, student mobility and innovation.

Santander Universities initiatives include:

• the granting of over 14,000 scholarships a year to promote study, research and initial professional work experience and bursaries to facilitate student and staff mobility between universities in the network
• the issue of almost four million university smart cards in more than 200 universities, with a high level of functional and financial features for teachers and students
• support for two major global projects: the 'Miguel de Cervantes Virtual Library' (www.cervantesvirtual.com), the largest of its kind for Hispanic works; and Universia (www.universia.net), the biggest university co-operation network in the world, that includes 1,169 universities in 23 countries. Second International Meeting of Universia Presidents is to be held in Guadalajara, Mexico, on 31 May - 1 June this year. The meeting is being backed by Banco Santander, through the Santander Universities Global Division.

About our company

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets. At the end of 2009, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit. Founded in 1857, Santander had EUR 1,245 billion in managed funds at the end of 2009. Following the acquisition of Sovereign Bancorp in the U.S. in January 2009, Santander has 90 million customers, 13,660 branches – more than any other international bank – and 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. In 2009, Santander registered euro 8,943 million in net attributable profit. 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, over 2,300 ATMs and approximately 9,000 team members.  For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 877-SOV-BANK.

SOURCE Sovereign Bank