Santander UK chair Vereker resigns

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Santander’s UK chair William Vereker is stepping down, the bank said in a statement on Tuesday, following a request for comment by the Financial Times.

Vereker, who has served as chair of the Spanish lender’s UK business since 2020, previously informed the board that he intended to step down later this year, according to people familiar with the situation.

His departure comes as Santander explores a number of strategic options for its UK business, which could include a potential exit from the British retail marketthe Financial Times previously reported.

This is a developing story