Santander Bank

Santander Bank, N. A. (formerly Sovereign Bank) is a wholly owned subsidiary of the Spanish Santander Group. Based in Boston, Massachusetts, the bank—whose principal market is in the Northeastern United States—has more than $77 billion in assets, operates 723 retail banking offices, over 2,300 ATMs (including 1,100 in CVS pharmacies throughout the Northeast) and employs approximately 9,000 people. Santander offers an array of financial services and products including retail banking, mortgages, corporate banking, cash management, credit card, capital markets, trust and wealth management, and insurance.

Sovereign Bank was rebranded as Santander Bank on October 17, 2013; the stadium, arena, and performing arts center for which it has naming rights were also rebranded.

History

Banco Santander was founded on 15 May 1857, with Queen Isabel II 's approval. The bank grew and in the 1920s started to build a network of branches. In 1942 it opened in Madrid. In 1934 Emilio Botín Sanz de Sautuola y López became director, and in 1950 chairman. He expanded the bank throughout Spain, so in 1957 it was Spain's seventh largest bank. In 1976 it acquired First National Bank of Puerto Rico, and in 1982 Banco Español-Chile. In 1986, Emilio senior's son Emilio Botín Sanz de Sautuola y García de los Ríos, succeeded him. In the late 1980s he acquired CC-Bank in Germany and a stake was in Banco de Comercio e Industria in Portugal. In 1989, the “Supercuenta Santander” was launched.