Santander Adds Former JPMorgan Execs to Commercial Banking Team

Santander Bank appointed Taryn Phelan commercial banking chief experience officer and Michael McDonough head of trade and working capital solutions. Phelan will report to Joe Abruzzo, head of commercial banking for Santander Bank, and McDonough will report to Ken Deveaux, head of transaction banking at Santander Bank.

“Taryn and Michael are great examples of our investment in top talent to drive, develop and execute our commercial banking growth strategy,” Abruzzo said. “They bring a wealth of leadership, experience and energy with them to Santander, and I’m excited to have them on our dynamic team.”

As commercial banking chief experience officer, Phelan will lead an integrated effort focused on both the client and employee experience. In this newly created position, she will oversee the development and implementation of new onboarding processes, training initiatives and sales management programs.

“As a 20-year industry veteran with immersive client engagement and change management expertise, Taryn will architect and deliver go-to-market strategies to support our goal of growing the commercial banking portfolio while also enhancing client retention and employee engagement,” Abruzzo said.

Phelan joined Santander from JPMorgan Chase, where she most recently served as global change management lead, overseeing a firmwide transition of HR systems designed to simplify and digitize the employee experience. Throughout her 20-year tenure at JPMorgan Chase, Phelan held various leadership positions in its commercial banking division, including middle market relationship manager, mid-corporate marketing and communications executive, corporate client banking chief operating officer, and commercial banking transformation executive.

McDonough will oversee the delivery and development of working capital solutions across the payables and receivables landscape. These will encompass holistic solutions, including trade, supply chain finance, commercial card and integrated payables, and receivables products to commercial banking clients.

“Michael has direct experience in developing best-in-class working capital solutions, and we look forward to leveraging that experience to deliver sound treasury and risk management solutions to our clients at Santander,” Deveaux said.

Before joining Santander, McDonough served as wholesale payment solutions working capital lead at JPMorgan Chase, where he led the creation of working capital solutions for the treasury, trade finance, commercial card and merchant services business lines. During his decade-long tenure at JPMorgan Chase, McDonough also held several trade, working capital and supply chain finance roles, including North America trade executive, global head of corporate trade and supply chain product, and global head of supply chain finance product.