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Santander Bank, N. A. (/ ˌ s ɑː n t ɑː n ˈ d ɛər /) is an American bank operating as a wholly-owned subsidiary of the Spanish Santander Group. It is based in Boston and its principal market is the northeastern United States .
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Santander UK plc (UK: / ˌ s æ n t ən ˈ d ɛər,-t æ n-/, US: / ˌ s ɑː n t ɑː n ˈ d ɛər /) [3] is a British bank, wholly owned by Banco Santander, a Spanish bank.Santander UK plc manages its affairs autonomously, with its own local management team, responsible solely for its performance.
The Santander Consumer Bank AG is not a member of the Employers' organization of the private banking industry and thus not bound by collective agreements. At Santander, according to union information, there is a "proliferation of varying salaries" that has arisen in recent years as a result of acquisitions of banks. [28]
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The total amount Santander had to pay to hire Orcel increased from $21.3 million to more than $50.7 million (€50 million). One estimate had the total cost of Orcel's contract to be as high as $60 million. Santander could only cover a third of that amount. [49] Orcel was released from his contract and regained his UBS deferred stock options. [50]