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

Aug. 6 (Bloomberg) -- Banco Santander SA 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, 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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