The head of Santander’s corporate bank, who faced criticism for misleading MPs about the Royal Bank of Scotland’s controversial restructuring unit, is retiring.
Chris Sullivan, 61, will step down in the autumn, having joined the Spanish bank in December 2015. He had left RBS a year earlier after the bank was forced to apologise to parliament for the evidence he gave to MPs about its Global Restructuring Group.
The division was ostensibly a turnaround unit set up to help ailing businesses. However, the Financial Conduct Authority found that it had mistreated thousands of small and medium-sized companies.
