Finance
Santander Revamps Structure in Push to Reach Profit Targets
- Planned changes to the firm may reduce management layers
- CEO Hector Grisi works to attain the company’s profit goals
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Banco Santander SA overhauled its corporate structure as Chief Executive Officer Hector Grisi seeks to simplify the company’s operations.
As part of the changes, the Spanish bank is combining individual countries’ retail and commercial banking businesses under a new global unit, which will be headed by Daniel Barriuso, and creating a new digital consumer bank area that will be led by Jose Luis de Mora, Santander said in a statement late Monday, confirming an earlier Bloomberg report.