Slated Boss Resurfaces at Santander

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By Jacob Maslow

The former deputy chief executive at RBS, Chris Sullivan, who was caught up in an investigation last year into the mistreatment of small businesses has popped back up again in the world of corporate banking.

Sullivan will run the Santander (NYSE:SAN) small business and corporate unit.

He testified before MP’s in 2014 after an arm of RBS, the Global Restructuring Group, came under investigation for putting small businesses under financial pressure in order to be able to acquire their properties and assets.

Nathan Bostock, another former RBS executive and now head of Santander, said that Sullivan brings a “wealth of experience” to Santander.

Santander has largely been seen as a retail bank until now, but with the appointment of Sullivan it is widely regarded as a signal that it plans to expand in the corporate sector.


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