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Vadera cements place in City elite with Santander UK role

Newspaper

Former Labour minister Baroness Vadera has been appointed chairman of Santander UK, making her the first woman to chair a big British bank. She replaces Lord Burns, who is retiring after chairing Santander UK for more than a decade. Vadera will work closely with her friend Ana Botín – both are thought to be keen to build up Santander's small business lending and improve its customer service to rebuild public trust after the reputational damage done by the financial crisis and subsequent mis-selling scandals. Lord Burns said: 'The point is that we are in the middle of a great regulatory tsunami and the board has to keep a very close eye on that. The thing that attracted us to Shriti is she has a fantastic understanding of the banking industry and the regulatory agenda.'

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