Michael Lee Takes Charge of Santander's Integrated U.S. Commercial Banking Division

Santander Bank has restructured its commercial operations in the United States, consolidating its commercial & industrial business with its commercial real estate and vehicle financing segments into a unified Commercial Banking division. Leading this expanded operation is Michael Lee, who assumes the role of Senior Executive Vice President and Managing Director of Commercial Banking.

Lee, who joined Santander in 2009, previously served as Managing Director and Head of Commercial Real Estate & Vehicle Finance. His new position encompasses oversight of the Bank’s commercial real estate construction, community development finance, commercial equipment and vehicle finance, international banking, middle market and corporate banking, multifamily lending, as well as not-for-profit and government banking operations. He continues to report to Tim Wennes, Santander US CEO and Santander Bank President and CEO.

A Strategic Consolidation for Growth

The consolidation reflects Santander’s broader initiative to streamline its organizational structure in the U.S. market. By merging previously separate commercial divisions under a single leadership, the bank aims to enhance its client-centric service delivery while maintaining profitability. This restructuring aligns with the company’s larger transformation agenda to modernize operations and provide comprehensive banking solutions across all commercial segments.

Tim Wennes highlighted Lee’s extensive background as crucial to the success of this integration. “Michael brings more than four decades of banking experience, including significant leadership tenure at Santander and its predecessor institutions,” Wennes stated. “His expertise in connecting our global capabilities with local market knowledge will be instrumental in driving growth across all commercial banking lines.”

Michael Lee’s Banking Track Record

With over 40 years in the financial services industry, Lee has held executive positions at Bank Boston, Fleet, and Sovereign Bank before his tenure at Santander. His career has been primarily focused on lending and risk management. Beyond his professional responsibilities, Lee actively participates in his community, serving on boards including the Massachusetts Business Roundtable, Providence Chamber of Commerce, and Rhode Island Bankers Association. He holds a bachelor’s degree in accounting and a master’s degree from Providence College.

About Santander Bank’s Market Position

Santander Bank operates as one of the largest retail and commercial banks in the United States, managing $99 billion in assets. With headquarters in Boston, the institution serves more than 2 million customers across the Northeast and Mid-Atlantic regions, employing nearly 9,000 people. As a wholly-owned subsidiary of Madrid-based Banco Santander, S.A., the bank benefits from its parent company’s global banking network spanning 164 million customers across the U.S., Europe, and Latin America.