Santander Brasil Appoints Sérgio Rial Chairman of Board of Directors

(Source: Santander.com)

Santander Brasil, the Brazilian subsidiary of the Spanish multinational financial services company Santander Group, announced that it has appointed Sérgio Rial, CEO of Santander Brazil and regional head of South America for the Santander Group, as chairman of Santander Brazil's board of directors, effective 1 January 2022. 

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Following nearly seven years as CEO of the Brazilian subsidiary, Rial is to step down from his executive role and will be succeeded by Mario Roberto Opice Leão, who has been head of Santander Brazil's Corporate Business division since 2015. Rial's responsibility as regional head of South America for the Santander Group will pass to Carlos Rey de Vicente, who is currently the vice president of Finance at Santander Brazil and a member of its executive committee. 

Sergio Rial joined the Santander Brasil in 2015 and became chief executive officer and vice-chairman in 2016. Since April 2019, he has been regional head for South America of the Group.

In the banking and financial sector, he held various executive positions in ABN Amro group between 1982 and 2004, including Chief Executive Officer for Asia and member of the global ExCo. He also held various executive positions at Cargill Inc. between 2004 and 2012, including executive vice-chairman, member of the board of directors and global chief financial officer. 

Sergio Rial said: "Over the past two years, the board of directors and I have worked together with group management to ensure we have a seamless succession strategy, leveraging the strength and continuity within our current management team, who together have led one of biggest transformations in the financial industry. Our goal is to continue building on the success of the past seven years, and I look forward to working with Mario and the team as we begin a new phase in the company's development based on a brave, fearless, intelligent and, above all else, human culture."