Santander takes on Yorkshire Building Society head as new chief executive

SANTANDER has hired the head of the Yorkshire Building Society to become its new UK chief.

The Spanish bank said Mike Regnier will join as its chief executive after a quarter-century career spanning Lloyds, TSB, Halifax and Asda.

William Vereker, Santander chairman, said: “I am delighted to be able to appoint someone of Mike’s calibre as our new CEO.

“He brings a powerful combination of experience, knowledge and energy, twinned with a positive vision for the future of the bank.”

Last year Mr Regnier was reported to be one of the highest paid chief executives of a UK building society.

He has been in the role since 2017, and will be replaced by Yorkshire’s chief operating officer Stephen White, subject to regulatory approval.

John Heaps, Yorkshire Building Society chairman, said Mr Regnier has “led the society superbly through a period of significant challenge as we have addressed both the transformation to a more digitised world and the complexities of the Covid pandemic”.

Mr Regnier said: “I am honoured to be joining Santander, a bank with a rich heritage in the UK, a strong track record of innovation and a commitment to helping our country prosper.

“I am excited to be able to make a real difference to people and businesses across the UK, helping them to thrive and grow with the support of Santander’s incredible team and unique services and products.”

He added: “I have thoroughly enjoyed my time at Yorkshire

Building Society and it has been a great privilege to have been CEO. I was very proud to lead an outstanding and talented group of colleagues who always, and especially during the pandemic, put members first.

“I feel that now is the right time for me to take on a different challenge and leave the society in excellent shape for my successor to take the society on the next phase of its journey.”

The news comes after restructuring that included a move to cut its branch numbers across the UK.

Four branches in Scotland were affected by the move, which covered the closure of 111 branches during the summer.

Two branches in Glasgow, on Sauchiehall Street and Kilmarnock Road, one in Edinburgh, on Morningside Road, and one in Dalkeith were included. Santander said that decision was sparked by the ongoing shift towards mobile and online banking, which has accelerated during the pandemic.

The bank said at that stage that branch transactions fell by 33 per cent in the two years before the pandemic.