Santander Chile announces Andrés Trautmann Buc as new Chief Executive Officer (CEO) and Country Head
Rhea-AI Summary
Banco Santander Chile (NYSE: BSAC) has announced that Andrés Trautmann Buc will become the new CEO and Country Head, effective July 1, 2025, replacing Román Blanco Reinosa. Trautmann, currently Executive Vice President of Santander Corporate & Investment Banking (CIB), brings extensive experience since joining the Group in 2007.
Under Blanco's leadership, Santander achieved significant milestones, including a 26% ROAE in Q4 2024 and total profits of 865 billion pesos in 2024. The bank maintains strong financial metrics with a P/BV ratio of 2.2x and an A2 rating from Moody's. As of December 31, 2024, the bank reported total assets of US$68,865 million, gross loans of US$41,569 million, and total deposits of US$31,545 million. The bank operates with 8,757 employees across 236 branches, maintaining a solid BIS capital ratio of 17.1% and a core capital ratio of 10.5%.
Positive
- Strong Q4 2024 financial performance with 26% ROAE
- Total profits of 865 billion pesos in 2024
- High P/BV ratio of 2.2x, among the highest in Latin American banks
- Robust capital position with 17.1% BIS ratio
- Strong credit rating of A2 from Moody's
Negative
- None.
News Market Reaction
On the day this news was published, BSAC gained 0.10%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SANTIAGO, Chile, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Banco Santander Chile (NYSE: BSAC) announces that Mr. Andrés Trautmann Buc will take over as CEO and Country Head, replacing Mr. Román Blanco Reinosa. This change will occur on July 1, 2025 and, until then, Mr. Blanco will remain as the bank's CEO, while Mr. Trautmann will continue to lead the Executive Vice President of Santander Corporate & Investment Banking (CIB).
Mr. Trautmann, a commercial engineer from Universidad de Chile, has a distinguished career at Santander, since joining the Group in 2007. He began his career as Head of Institutional and Corporate Sales at Santander Chile. Between 2010 and 2012, he served as Head of Structured Products Sales in London for Santander UK. Between 2013 and 2018 he oversaw the Andean Zone sales for Goldman Sachs in New York. In 2018, he became the Head of Markets Santander Chile, and in 2021, he was appointed Executive Vice President of CIB at Santander Chile, a global division that supports corporate and institutional clients with high-value services, products and solutions.
Since his initial position in Markets, Mr. Trautmann has achieved significant milestones, including tripling the growth of the Sales and Trading business. At CIB, he led and promoted the expansion of products for large companies by leveraging the global capabilities of the Santander Group. Recently, he also took on the Corporate and Institutional Banking business and Santander Consumer Finance, giving him a comprehensive view of the bank's operations. His leadership and deep knowledge of the business and markets will continue to strengthen the bank's position in the country.
Santander thanks Román Blanco, who, in his role as CEO and Country Head, has led a successful process accelerating the transformation of the bank's business models in Chile and its technology, strengthening the growth of Getnet and Santander Consumer Finance. Additionally, he promoted the launch of the Más Lucas and Más Lucas Joven account. Also noteworthy is the implementation of Gravity in Chile, positioning the entity as the first local bank with a banking core migrated to Cloud technologies. Among the achievements under his supervision are the implementation of specialized service models for companies, as well as the evolution of branch strategies, with Work/Café Expresso as an example.
During Mr. Blanco´s leadership, Santander has achieved an ROAE during the 4Q of 2024 of
It should be noted that Mr. Blanco has extensive international experience with more than 20 years within the Group. His main functions include having being Country Head in several operations such as the US, Puerto Rico and Colombia, in addition to leading the bank in the Andean region and Uruguay and having extensive experience in business management in Santander Brazil.
CONTACT INFORMATION
Cristian Vicuña
Investor Relations
Banco Santander Chile
Bandera 140, Floor 20
Santiago, Chile
Email: irelations@santander.cl
Website: www.santander.cl
Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody's, A- from Standard and Poor's, A+ from Japan Credit Rating Agency, AA- from HR Ratings and A from KBRA. All our ratings as of the date of this report have a stable outlook.
As of December 31, 2024, the Bank has total assets of
FAQ
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