Blythe Masters, the former commodities chief of JPMorgan Chase & Co., was named non-executive chairman of Santander Consumer Holdings USA as the auto lender reshapes its board.
Masters, 46, succeeds Stephen Ferriss, who has been interim chairman since July 3, the Dallas-based bank said Wednesday in a statement. Masters is chief executive officer of Digital Asset Holdings LLC, a startup that uses blockchain technology, which reduces the time it takes to settle trades.
“Blythe Masters’s deep understanding of the financial markets and emerging bank technologies, coupled with her regulatory expertise, make her the right choice,” Jason Kulas, who was named Santander Consumer USA’s CEO earlier this month, said in the statement.
Masters led JPMorgan’s global commodities business from 2007 to 2014 and was previously chief financial officer of the firm’s investment bank.
Santander Consumer, majority owned by Madrid-based Banco Santander SA, is seeking to boost profitability by focusing on commercial banking in the firm’s main markets as well as expanding its consumer-lending business. Banco Santander is Spain’s largest bank.