Santander México is one of Mexico’s main banks, with a market share of 13.3 per cent in loans and 11.8 per cent in deposits, it said.

Banco Santander has appointed one of its senior figures, Felipe García Ascencio, as chief executive of the bank’s Mexico business. He will also become group country head for the country, effective January 1.

García Ascencio will replace Héctor Grisi, who in turn will take over from José Antonio Álvarez as Banco Santander CEO at the start of January.

Previously, Garcia Ascencio, who joined Santander in 2020, was senior executive vice-president of Santander México.

Prior to being named senior executive vice president of Santander México, Garcia Ascencio was its head of corporate and investment banking. He holds a degree in economics from Instituto Tecnológico Autónomo de México and a master’s degree in economics from the London School of Economics. He has over 25 years’ experience in banking, having held senior management positions for Mexico and Latin America at Credit Suisse and Goldman Sachs. He began his career at Mexico’s Ministry of Finance and Public Credit.