New name, same services for Sovereign’s local clients

ACROSS THE GLOBE: Brian A. Azar, region president for Sovereign Bank, says that being aligned with an international financial-services company allows the institution to better meet the needs of local customers. / COURTESY SOVEREIGN BANK
ACROSS THE GLOBE: Brian A. Azar, region president for Sovereign Bank, says that being aligned with an international financial-services company allows the institution to better meet the needs of local customers. / COURTESY SOVEREIGN BANK

Four years after Sovereign Bank was acquired by global banking giant Banco Santander SA, which is based in Spain, the name change to Santander Bank will become official on Oct. 17. That impending change, even though many in the financial community consider it just about a name, will nevertheless put Sovereign’s Region President for Southern New England Brian A. Azar in the spotlight.
With continuous shifts in the banking industry and tough competition locally, Azar has his feet solidly on the ground in Rhode Island’s financial territory. He gives Sovereign/Santander a strong local voice as the bank does its best to take advantage of the name change to highlight upgraded facilities, services and strength in the international marketplace.

PBN: Does the approaching date of the official name change from Sovereign Bank to Santander add a layer of stress to your banking responsibilities?
AZAR: I don’t see it as stressful. I’ve built a career over 28 years and I think we’re sending good messaging about local management that will allow a seamless transition. I think as a spokesperson here locally, I’m very comfortable. I was born here, raised here and went to college in Rhode Island, so I’m very excited to be leading the message going forward about delivering convenient and innovative solutions for our customers. I still view myself as that branch manager, doing my best to help meet the needs of customers, whether it’s growing their business or buying their first home. At my very core, at the heart of what I do every day, I always try to keep the customer as my main focus. That’s not stressful at all. That’s very rewarding.

PBN: What changes in Sovereign and its place in the Rhode Island banking community have you seen during the nine years you’ve worked with the bank? AZAR: When I first began, Sovereign was an independent thrift institution. In 2005, Santander bought a stake in Sovereign and in 2009 purchased the remainder. At the beginning of this year, in order to be able to service our business customers even better, we converted from a thrift to a nationally chartered, FDIC-insured bank. By moving through this transition, it allows us to be able to grow on the business side and gives some flexibility about how much we can lend to businesses.
PBN: How do you think Rhode Island businesses and consumers will react to the name change?
AZAR: I think Rhode Island will respond very positively to the change. The reason for that is that the biggest change and the toughest part of our name change is for folks to get accustomed to pronouncing Santander. It’s really important to understand that we’ve been part of Santander since 2009 and that as we get right down to it, to understand that we manage our business here in the United States for Santander. It’s locally managed. My team is located here in Rhode Island. What’s even more important are the folks in our branches. The managers won’t change. The tellers won’t change. From a customer perspective, I think that when people see transitions take place, it usually means dramatic system changes, but for our customers, the change will be seamless. Other than the name change, our customers’ account numbers will stay the same, their PIN numbers will stay the same, they’ll use their same debit cards, they’ll use their same checks. From a customer perspective, the only change will be positive changes, of being part of a global brand and one of the largest and strongest banks in the world.

PBN: Santander has a lot of competition from global, national and regional financial institutions? How do you think you’re going to set yourself apart, especially in the extremely tough competition for midsized businesses?
AZAR: I think our customers are going to bank with us for our convenient online and mobile banking, our branches and ATMs and our strong local relationships. What we have found is we have an extremely loyal customer base and that customer base has gravitated toward the relationships they’ve developed in the local folks in their local branches. I think being part of this global brand, we’ll be able to meet even more needs of our customers and be more recognized by people who are here. Our change in charter, to an FDIC-insured bank, will allow us to deepen relationships with our business customers.

PBN: Do you see that there will be an increased focus on targeting the commercial market?
AZAR: It’s absolutely a goal of ours to expand both in the retail space, as well as in the commercial space.

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PBN: What kind of commitment from Santander will Rhode Islanders see in the state?
AZAR: We’re making almost a $200 million investment in our infrastructure. So every branch in Rhode Island, all 32 of them, will be touched through this process. There’ll be new carpets. There’ll be new furniture. There’ll be painting that will be taking place. For some offices there will be even more significant renovations that will be done. … We’ll also be replacing and upgrading all of our ATMs here within the state. •

INTERVIEW
Brian A. Azar
POSITION: Region president for southern New England for Sovereign Bank, a division of Santander
BACKGROUND: He began his career at Eastland Bank in Woonsocket in 1985, where he served as branch manager. From 1989 to 1999 he worked for Fleet Bank in a variety of positions. In 1999, he began working with Citizens Bank as the regional manager. He joined Sovereign in 2004 as regional executive for community banking, and then expanded to overseeing additional areas. Five years ago he started working for Sovereign in Boston as region president. In January, his work brought him home when he was named Sovereign Bank’s region president for southern New England.
EDUCATION: Bachelor’s degree in business administration from Bryant University, 1985
FIRST JOB: Delivered prescriptions to nursing homes for Central Drug in Central Falls
RESIDENCE: Lincoln
AGE: 49

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