Jorge Moran, who has led Sovereign Bank since late 2010 as its CEO, has left both the bank and its parent company Santander Holdings USA Inc., Boston Business Journal reported last week.
Santander Holdings USA is a wholly owned subsidiary of Spanish banking giant Banco Santander.
Roman Blanco, who has led Santander’s Puerto Rico operation since last year, will replace Moran. Blanco last week was unanimously elected to be CEO of both Sovereign and Santander Holdings USA.
Sovereign’s board said it respects Moran’s decision to step down. His leadership “has been instrumental in reorganizing Santander’s business in the U.S.,” Jerry Grundhofer, chairman of the board of both Sovereign and Santander Holdings, said in a statement. •