Sovereign Bank changes name to Santander

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Sovereign Bank, a subsidiary of Santander Holdings USA and one of the 25 largest retail banks in the United States by deposits, will begin to market itself under the Santander brand and change its name to Santander Bank on Thursday.
“Under the Santander name, we will marry the local insights and relationships of a committed, community-focused bank with the breadth and expertise of a major global financial institution,” said Carlos Garcia, chief corporate affairs and communications officer at Sovereign Bank and Santander Holdings USA, in prepared comments.
Sovereign Bank operates in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island, serving 1.7 million retail and commercial clients.
It has been a financially autonomous member of the Santander Group since 2009.
Santander has 102 million customers, over $72 billion in market capitalization and a 10.67 percent core capital ratio.
Santander Group’s subsidiaries do business under the unified Santander brand in the U.K., Germany, Brazil, Mexico, Chile, Argentina, Spain and Portugal.
In the four years since Sovereign Bank became part of the Santander Group, its corporate headquarters were relocated to Boston.

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