Former Goldman Sachs director Swati Bhatia joined Santander Bank

US-based Santander Bank has appointed former Goldman Sachs director Swati Bhatia as its new head of retail banking and transformation

With immediate effect, the new hire was assigned the responsibility of leading the consumer and business banking division of the subsidiary in the US, along with overseeing all related digital transformation endeavors, as confirmed by the bank's latest statement. She was required to provide progress reports directly to Tim Wennes, CEO and US country head of Santander Bank, and Daniel Barriuso, global head of retail and commercial banking and group transformation, drawing on her extensive 25 years of industry experience to fulfill their shared mandate. Bhatia transitioned to this role directly from Goldman Sachs, where she previously served as an advisory director and led the digital offering Marcus as it integrated into Goldman Sachs’ broader asset and wealth management division in 2022. Her previous employers included prominent organizations such as business payments leader Stripe, PayPal, and US-based bank Capital One.

Wennes affirmed that Bhatia possessed the requisite blend of experiences to meet the demands of her new role, expressing confidence in her ability to scale the digital platform and expand the business nationally. The bank's growth strategy in the US had thus far centered on accumulating deposits to support its auto franchise, driven predominantly by the enhancement and automation of its digital capabilities. This strategy had resulted in several partnerships with fintech firms, notably SigFig for investment and advisory solutions and DailyPay for providing on-demand pay solutions to its commercial clients.