This week, Santander Consumer USA Holdings made a trio of key changes to its leadership team under new chief executive officer Scott Powell, who took control of the finance company in late August.
SCUSA announced that Juan Carlos Alvarez, corporate treasurer of Santander Holdings USA is succeeding Ismail (Izzy) Dawood as chief financial officer, effective immediately. Dawood, who has been with the finance company since December 2015, is leaving to pursue other opportunities.
In addition, Sandra Broderick, who previously was a top executive at US Bank will join SCUSA as executive vice president and head of operations on Oct. 10.
“Juan Carlos was instrumental in helping SHUSA take major steps forward in the past year, including the work that led to passing the Federal Reserve’s capital stress test and the termination of our 2014 Written Agreement with the Federal Reserve,” Powell said.
“With his intimate knowledge of SC and strong financial expertise, I’m confident Juan Carlos is the right person to assume the role of SC CFO at this point in SC's evolution,” Powell continued.
As corporate treasurer of Santander Holdings, Alvarez oversaw SHUSA’s liquidity risk management, asset liability management, fixed-income investor relations and treasury functions. He has significant financial expertise, having served in a variety of roles at Santander, including interim CFO of Santander Holdings and global head of treasury and investments for Santander’s International Private Banking Unit.
Alvarez is stepping down as Corporate Treasurer of Santander Holdings to devote his full attention to Santander Consumer. Santander Holdings will name its new corporate treasurer at a later date.
“I’m looking forward to working alongside Scott as Santander Consumer’s CFO, and continuing to strengthen SC’s financial and operational performance,” Alvarez said. “SC has a bright future ahead, and I'm excited to be part of this new chapter.”
SCUSA also announced that Broderick will join the finance company.
In this role, Broderick will oversee originations, servicing and default, and other operations functions including administrative oversight of Santander Consumer International, Puerto Rico. She joins SCUSA from US Bank, which she joined in 2017 from JPMorgan Chase & Co. At JP Morgan Chase & Co. she served as the managing director and operations executive from 2002 to March of this year, and also served as head of operations for its automotive finance business since 2012. She brings more than 30 years of experience in the industry and also has held a variety of senior positions leading operations at Bank One, GE Capital and HSBC.
Broderick will report to Powell and Santander U.S. COO Mahesh Aditya.
In other moves, SCUSA said Rich Morrin will also take on a new role as president of Chrysler Capital and auto relationships, reporting to Powell.
Morrin will be responsible for Chrysler Capital, SCUSA’s sales and marketing activities, dealer and customer relationships, dealer oversight and RoadLoans.com. He will also be jointly accountable for Dealer Commercial Services, (DCS), which is part of Santander Bank. Morrin will be responsible for building Santander Consumer's integrated product offering for dealers and strengthening relationships with them.
“I am pleased to have such strong leaders on my team,” Powell said. “Juan Carlos, Sandy and Rich each bring considerable experience and expertise to their roles, and I am looking forward to working together as we grow SC and strengthen our commitment to customers.”