Sovereign Bank to change name to Santander
Name change, part of $200 million marketing push, to take effect Oct. 17
Sovereign Bank, once headquartered in Berks County, is about to undergo a big change. Both its name and familiar antique logo will become things of the past when the bank officially changes its name this fall.
The bank, a subsidiary of Santander Holdings, will begin to market itself under the Santander brand and legally change its name to Santander Bank on Oct. 17, the bank announced Wednesday.
"Under the Santander name, we will marry the local insights and relationships of a committed, community-focused bank with the breadth and expertise of a major global financial institution,” said Carlos Garcia, chief corporate affairs and communications officer at Sovereign Bank and Santander Holdings USA.
Sovereign Bank, which relocated its headquarters from Wyomissing to Boston in 2009, operates more than 700 branches in Pennsylvania, New Jersey and seven other states, serving 1.7 million retail and commercial customers.
In addition to having more than a dozen branches in Berks County, the bank also retains a large administrative presence, with a pair of office buildings on Penn Street in downtown Reading and another in Wyomissing. It also has its name on the Sovereign Center arena and the Sovereign Performing Arts Center theater.
"We’re looking forward to acquainting consumers and businesses with the Santander brand as well as our expanded capabilities and resources," said Kathy Klingler, chief marketing officer and director of corporate communications. "Our new advertising campaign will focus on how Santander will support our customers in achieving their dreams, goals and ideas."
The bank said it will invest more than $200 million over the next three years to make several enhancements to go along with the name change, including refurbishing its more than 700 branches, rolling out enhanced ATMs, and streamlining its website design.