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Sovereign Bank to change name to Santander

By 69 News, follow: @69news, news@wfmz.com
Published On: Jul 24 2013 09:46:20 AM CDT
Updated On: Jul 24 2013 05:53:28 PM CDT

Sovereign Bank, once headquartered in Berks County, is about to undergo a big change.

BOSTON -

The Sovereign Bank name and familiar antique lantern logo will become things of the past 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 operates more than 700 branches in nine states, including Pennsylvania and New Jersey, serving 1.7 million retail and commercial customers.

The bank, formerly based in Wyomissing, Berks Co., relocated its corporate headquarters to Boston in 2009 when it became part of Santander Holdings.

"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.