Santander UK announced on Friday that its CEO Mike Regnier “has confirmed his intention to step down as UK CEO by Q1 2026.”
Regnier joined Santander UK in March 2022 from Yorkshire Building Society and has overseen a programme of change, culminating in the acquisition of Edinburgh’s TSB Banking Group plc from Banco Sabadell, subject to regulatory approval, in July of this year.
Santander said an appointment process to find Regnier’s successor has started.
Alicante-based Banco Sabadell said on August 6 its shareholders overwhelmingly approved the £2.65 billion sale of TSB to Banco Santander and the distribution of an extraordinary cash dividend of €2.5 billion.
The transaction is expected to close in the first quarter of 2026.
The TSB brand could now disappear with Santander saying it “intends to integrate TSB in the Santander UK group, enabling it to become the third largest bank in the country by personal current account balances.”
TSB’s Edinburgh headquarters is now up for sale — with its owner seeking offers of over £18,550,000 for the property.
Agent JLL said it has brought to market TSB’s Henry Duncan House HQ at 118-124 George Street, Edinburgh.
It said the building is let to TSB Bank Plc until December 2031.
Regnier said: “It is my intention to step down as CEO of Santander UK by Q1 2026 after what will be four years of great strategic success for the business, culminating in the decision by the Group earlier this year to acquire TSB to accelerate our transformation.
“It had been my intention to move on after 4-5 years with Santander as I have other interests I would like to pursue. Given that the integration of TSB will take considerably longer than this, I have suggested to the Board that now would be a good time to find a successor who can see this critical project through to its completion and beyond.
“The integration will take time and focus, alongside the ongoing transformation of Santander UK which has strong momentum under an excellent Board and management team. Judging the right moment to move on is very important to ensure leadership stability through a period of intense change and opportunity.
“The foundations are in place to create the best bank for customers in the UK, fully integrated into the global banking group that is Santander. What was once a group of banks is becoming a truly important banking group, for the benefit of customers, shareholders, employees and the economies we serve.
“The process to find my successor is underway and I look forward to welcoming and handing over to them in due course so the momentum can continue.”
Banco Santander executive chair Ana Botin said: “Mike has done an excellent job in his four years with Santander. We now have real momentum in the transformation of the UK bank, leveraging the investment and scale of the Group in its strategy to become the best bank for customers in the UK and for our shareholders.
“Our decision to acquire TSB accelerates our strategy and is a clear statement of intent in our ambition for Santander in the UK.
“Mike was always very clear about his intention to stay for up to 5 years. His decision allows an orderly transition and stable leadership through a very important integration project and the creation and growth of the newly enhanced bank. I am very grateful to Mike and wish him every success in what he does next.”
Santander UK chair Tom Scholar said: “The Board is very grateful to Mike for his leadership and drive over the last four years. He has maintained a strong team culture and cohesion through a period of significant change which is a testament to his abilities as a leader. With strong succession plans in place, we expect to be able to conclude the process to appoint a successor in the early part of 2026.”
Santander UK also announced that Mahesh Aditya has been appointed as a Banco Santander, S.A. nominated Non-Executive Director of the Santander UK Boards, effective October 1, 2025. He replaces Dirk Marzluf who stepped down from the Boards of Santander UK with effect from September 30, 2025.
Scholar said: “I am delighted to welcome Mahesh to the Boards of Santander UK. Mahesh will bring a breadth of experience to the Board, including in depth knowledge of risk management in banking during a period of strategically important transformation for Santander UK.
“Dirk has been a highly valued member of the Board during his six year tenure and I would like to thank him for his contribution to Santander UK in that time.”