Sovereign shuffles retail, small-biz setup

BOSTON – Sovereign Bank says it is reorganizing its retail and small-business operations, centralizing oversight of product development, sales distribution and support in both areas under a top executive who reports directly to Sovereign president and CEO Jorge Morán.
Nuno Matos, Sovereign’s managing director of retail banking, will now assume responsibility for all retail bank businesses, segments and channels, including the branch network. Matos is a member of the bank’s management executive committee and a member of the board of directors for Sovereign, a subsidiary of Spanish company Grupo Santander.
“These organizational changes reflect the importance of the retail business and our goal of further strengthening Santander’s presence in the United States,” Morán said in a statement.
Also, David Miree, a 20-year industry veteran, recently joined Sovereign Bank as executive vice president and managing director of the retail network, reporting to Matos.
In his new role, Miree is responsible for all retail distribution, including Sovereign’s 721 branches, the bank’s brokerage and investment division, and business banking.
Since 2008, Miree worked at Wells Fargo, most recently as executive vice president, regional president for Greater Pennsylvania.