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

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.