Santander UK’s William Vereker announced Jan. 28 he is stepping down from his role as board chair of Santander UK Group Holdings and Santander UK.

Vereker, who joined the board in October 2020, plans to officially depart the company this year following the appointment of a replacement and a transition period, according to the bank’s release. A replacement has not been named.

The $1.9 trillion Santander Bank, which wholly owns Santander UK, is using technology to save its operating costs as it continues its focus on driving higher profits and has saved $341 million since 2022 through deployment of tech, former Chief Executive Hector Grisi Checa said during the bank’s Q2 earnings call on July 24. 

“Santander UK has undergone a significant transformation since 2020 and it has been an honour to Chair its Boards during that time,” Vereker said in the release. “With the transformation well under way and having a strong CEO and a refreshed board in place, now is the right time for me to step down.”  

Vereker is the latest bank leader to announce his departure from his institution. He follows: 

• U.S. Bank CEO Andy Cecere who will step down in April; 

• JPMorgan President and Chief Operating Officer Daniel Pinto who will step down in June; and 

• Truist COO Beau Cummins, who resigned from his role this month.  

Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.