Santander Mexico CEO Héctor Grisi to lead banking multinational in 2023

Santander has tapped Héctor Blas Grisi Checa to take the reins of the Spanish banking multinational in 2023.

Santander executive chair Ana Botín and incoming CEO Héctor Blas Grisi Checa. Image source: Santander

Grisi will replace José Antonio Álvarez as group CEO following a transition period and be responsible for the banking group’s regions, countries and global businesses.

Following the transition, Álvarez will remain on the board and serve as non-executive chair.

Grisi, currently CEO of Santander Mexico and head of North America, will also assume the role of group director, reporting to the board in line with changes to the group’s management structure announced on 24 February 2022.

Grisi says: “I firmly believe that Santander’s scale, diversification, and customer focus create opportunities for growth that are difficult for others to replicate.

“I have no doubt that we have the strategy, model and above all, the team, to create value for all our stakeholders and fulfil our potential.”

Grisi joined Santander in 2015 as CEO of Santander Mexico and since then “has completed a transformation of the bank’s business in the country”, Santander says.

In 2019, he was appointed head of the Santander group’s North America region, covering both Mexico and the US. In 2021, the US achieved a record year for profitability, generating $2.7 billion compared to $648 million in 2018, making the largest contribution to profit of any market in the group.

Grisi’s financial services career spans more than 35 years, with an 18-year term at Credit Suisse which included leading the firm’s Mexican operations as president and CEO of Credit Suisse Mexico.

Santander executive chair Ana Botín says Grisi “brings decades of experience and a deep understanding of our markets and business”.

“His track record as CEO of Santander Mexico and head of North America speaks for itself and illustrates why we believe he is the right person to lead the bank in the next phase of our transformation and growth,” Botín adds.