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December 15, 2010

New CEO At Sovereign Bank

Sovereign Bank, which has 42 branches in Central Massachusetts, has a new CEO.

The bank, which is owned by Madrid-based Santander, announced that Jorge Moran is taking over as CEO from Gabriel Jaramillo, who will be joining the United Nations to work on curbing the spread of malaria. Jaramillo will stay on as non-executive chairman of the board of the directors of Sovereign and Santander Holdings USA.

Moran was previously senior executive vice president of Banco Santander, head of its global insurance division and a member of the group's management committee.

Locally, there was a recent executive shakeup at Sovereign. This fall, John Merrill left his post as market president for the Massachusetts region to take an executive post at Leominster-based Fidelity Bank.

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