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Santander Consumer USA Names Bruce Jackson as Head of Santander Auto Finance
Industry veteran will lead core auto finance channel, alongside Shawn Allgood, who will continue to lead Chrysler Capital
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DALLAS, Feb. 9, 2021 /PRNewswire/ Santander Consumer USA Holdings Inc. (NYSE: SC) ( SC ), has named Bruce Jackson as Head of Santander Auto Finance, effective April 28, 2021. Mr. Jackson will join the SC leadership team and report directly to Mahesh Aditya, President and CEO of SC. Mr. Jackson will lead SC s core auto originations channel, serving alongside Shawn Allgood, who remains Head of Chrysler Capital and Auto Relationships. In order to provide exceptional service to our dealer network, Mr. Jackson and Mr. Allgood will manage sales, originations and funding operations for their respective lines of business.
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BOSTON and DALLAS, Feb. 4, 2021 /PRNewswire/ Santander Holdings USA, Inc. ( SHUSA ) and Santander Consumer USA Holdings Inc. (NYSE:SC) ( SC ), today confirmed that the Board of Governors of the Federal Reserve System has authorized the Federal Reserve Bank of Boston to terminate its Written Agreement dated March 21, 2017, with SHUSA and SC s wholly-owned subsidiary, Santander Consumer USA Inc.
Since 2015, SHUSA and SC have made significant progress in strengthening board oversight, compliance, risk management, capital planning and liquidity risk management. The 2017 Written Agreement required Santander to strengthen risk management across Santander US, and its termination demonstrates the progress Santander has made in recent years. The enhancements made to SHUSA s and SC s risk programs in response to the 2017 Written Agreement are now fully embedded in Santander s US operations.
Author Bio
Bram Berkowitz mainly writes in the financials bureau covering the banking sector. Prior to The Motley Fool, he wrote about and covered community and regional banks in New England for The Warren Group. Follow @BramBerko
Shares of
Santander Consumer USA Holdings (NYSE:SC) traded as much as 11.4% higher this morning after the auto lender reported earnings that beat consensus estimates. It received some good regulatory news as well.
So what
Santander recently reported net income of roughly $521.5 million, or $1.70 earnings per diluted common share, roughly 295% higher than the fourth quarter of 2019. For the full year, earnings in 2020 came in roughly flat compared with 2019. Both fourth-quarter and full-year earnings beat consensus estimates handily.