Santander Hires Investec’s Pain for U.K. Auto Securitization

Banco Santander SA (SAN) hired Mark Pain as the head of securitization for its U.K. consumer unit.

The position involves funding and structuring of asset-backed securities for the bank’s auto finance business in Redhill, U.K., according to Andy Smith, a London-based spokesman for Spain’s biggest bank.

Pain joined from Investec Plc (INVP), which owns a bank and money manager in South Africa and the U.K., where he worked from 2006.

To contact the reporters on this story: Alastair Marsh in London at amarsh25@bloomberg.net; Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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