Santander Consumer USA Holdings made its fourth significant executive leadership change in the past 12 months as Blythe Masters resigned from the finance company’s board of directors on Tuesday to take on a new role with Banco Santander.

While Masters departed her leadership role with SCUSA after about a year, the finance company elevated William Rainer to be its new chairman. Rainer already was a member of the board as well as chairman of SCUSA’s audit and regulatory and compliance oversight committees.

Masters will take on the role as group senior advisor on blockchain and also join Banco Santander’s international advisory board as well as the board of its online-only bank, Openbank, once necessary approvals are final.

This week’s moves extend a string of top-executive changes since last July when founder Thomas Dundon chose to resign as chief executive officer while remaining a member of the SCUSA board of directors and as a senior advisor.

Taking Dundon’s place as the company celebrated the Fourth of July was current president and CEO Jason Kulas, who praised the latest changes SCUSA revealed.

“Blythe has been an excellent chairman of the SC board, and I thank her for her leadership and partnership over the last year. I am pleased that she will continue to be a part of Santander,” Kulas said.

“I am also pleased that Bill has accepted the role of SC chairman. His deep knowledge of SC as an active board member provides continuity for our board, which will result in a seamless transition,” Kulas continued in a news release.

SCUSA’s other top-executive moves included the naming of Ismail “Izzy” Dawood as chief financial officer. Dawood came aboard in December after most recently serving as executive vice president and chief financial officer of the investment services division of The Bank of New York Mellon Corp.

Then earlier this year, Jason Grubb, who was president and chief operating officer of originations, and Brad Martin, who was chief operating officer of servicing, both departed SCUSA for high-profile roles at Exeter Finance. Santander Consumer USA then gave the president post to Kulas and promoted Richard Morrin to be COO.

Rainer’s promotion to be SCUSA’s board chair extends a decorated business career.

Rainer served as chair and chief executive officer of OneChicago from 2001 to 2004, prior to which he was chairman of the U.S. Commodity Futures Trading Commission from 1999 to 2001, and chairman of the United States Enrichment Corp. from 1994 to 1998. He founded Greenwich Capital Markets in 1981.

“I appreciate this opportunity to serve as chairman of SC’s board of directors. I especially look forward to continuing to work closely with my colleagues on the board, Jason and the entire management team,” Rainer said.

“I also want to thank Blythe for her contributions to Santander Consumer USA during her leadership as chair and wish her the best in her new and broadened role at Santander,” Rainer continued.

Masters is the CEO of Digital Asset, a technology company that builds distributed, encrypted, straight-through processing tools to improve efficiency, security, compliance and settlement speed. Prior to Digital Asset, she spent 27 years at JPMorgan Chase, where she served in numerous senior positions including head of global commodities, and was CFO of J.P. Morgan’s investment bank.

“I am excited to have this opportunity to work with Banco Santander more expansively,” Masters said. “I would also like to thank Bill Rainer; SC CEO, president and board member, Jason Kulas; and the SC team for their partnership and tireless work to strengthen SC’s business.”

Banco Santander executive chairman Ana Botín offered her assessment of the latest moves, stating, “I am very excited that Blythe and Bill have agreed to take on new roles for Santander.

“Blythe will bring her expertise in banking, business and blockchain where it will have significant impact to our digital bank, international advisory board and strategy team,” Botín continued. “She has done an outstanding job for SC, and I'm looking forward to her focusing on our global efforts in digital banking.”

“Bill knows SC's business well, having ably served as an active and engaged SC committee chair and board member,” Botín added. “I know he will be an outstanding representative for SC's shareholders, and will help the business strategically and commercially.”

Santander Holdings USA chairman Tim Ryan also offered his perspective.

“I am thrilled that another experienced business leader with a diverse set of skills has agreed to chair the SC board,” Ryan said. “Bill has a long record of excellence in banking and financial management, and has been an excellent chairman of the SC audit and regulatory and compliance oversight committees.

“I want to thank Blythe for her hard work and dedication over the past year,” Ryan went on to say.