Santander UK has announced that its chief executive, Mike Regnier, will step down as UK CEO by Q1 2026.
Mike joined Santander UK in March 2022 and he has overseen a "significant programme of change and transformation within the business", culminating in the acquisition of TSB Banking Group from Banco Sabadell, subject to regulatory approval, in July of this year.
An appointment process to find Mike's successor has started.
Mike Regnier said: "It is my intention to step down as CEO of Santander UK by Q1 2026 after what will be four years of great strategic success for the business, culminating in the decision by the Group earlier this year to acquire TSB to accelerate our transformation.
"It had been my intention to move on after 4-5 years with Santander as I have other interests I would like to pursue. Given that the integration of TSB will take considerably longer than this, I have suggested to the board that now would be a good time to find a successor who can see this critical project through to its completion and beyond.
"The integration will take time and focus, alongside the ongoing transformation of Santander UK which has strong momentum under an excellent board and management team. Judging the right moment to move on is very important to ensure leadership stability through a period of intense change and opportunity.
"The process to find my successor is underway and I look forward to welcoming and handing over to them in due course so the momentum can continue."
Ana Botin, executive chair of Banco Santander, commented: "Mike has done an excellent job in his four years with Santander. We now have real momentum in the transformation of the UK bank, leveraging the investment and scale of the Group in its strategy to become the best bank for customers in the UK and for our shareholders. Our decision to acquire TSB accelerates our strategy and is a clear statement of intent in our ambition for Santander in the UK. Mike was always very clear about his intention to stay for up to five years. His decision allows an orderly transition and stable leadership through a very important integration project and the creation and growth of the newly enhanced bank. I am very grateful to Mike and wish him every success in what he does next."
