Santander Consumer USA modified its top executive structure on Tuesday as Jason Grubb, who was president and chief operating officer of originations, and Brad Martin, who was chief operating officer of servicing, both departed the finance company.

With chief executive officer Jason Kulas also assuming the additional title of president, SCUSA named Richard Morrin chief operating officer, effective immediately. The company indicated Morrin will have oversight of SCUSA’s operational execution of its strategies, inclusive of the company’s loan originations and servicing organizations. 

Santander highlighted that Morrin has a decades-long career in the financial services sector and is a tenured member of its management team. He previously held the role of executive vice president of new business at SCUSA; a position he held since 2011.

Prior to joining Santander, Morrin held a variety of management positions in 21 years of combined service at Ally Financial and General Motors Acceptance Corp.

“As an experienced member of the SC management team, Rich Morrin is a proven and effective leader who knows our business well and has significant operational expertise. We are confident that Rich is the right leader for our talented operations team and will continue to build on his track record of being an important contributor to the company's success,” Kulas said.

“We remain firmly committed to working every day to execute our strategies of growing originations and our servicing for others, growing capital, and focusing on doing what's best for our customers, shareholders and employees,” Kulas continued.

“We look forward to leveraging Rich's leadership in ensuring the continued uninterrupted operations of our best-in-class systems and processes,” Kulas went on to say.

Morrin now is COO of SCUSA, which acknowledged during its most recent financial statement that the company’s market share softened in the fourth quarter.

“I am honored to have this opportunity to lead SC's operations team,” Morrin said.

“After five years with the organization, I look forward to continuing to work collaboratively with the executive management team to leverage our strong operational foundation to continue delivering best-in-class service and execution to our clients, and to create value for our shareholders,” he added.