Santander’s UK chair William Vereker has resigned, exposing a rift with the bank’s Spanish parent and its executive chair Ana Botín, according to people familiar with the matter.

Santander UK's board chair William Vereker has announced his intention to step down this year, once an orderly handover process has been completed, the British unit of the Spanish lender said in a statement on Tuesday.

William Vereker has resigned as chair of Santander UK and Santander UK Group Holdings, having held the posts since November 2020. The Financial Times first reported the news on Tuesday, after which Santander formally announced his resignation.

"Santander UK chair steps down as operations reviewed" was originally created and published by Private Banker International, a GlobalData owned brand.

Santander UK chair William Vereker will step down at a time when the parent of the lender is considering its future in Britain. Spain’s Banco Santander said Vereker will “during the course of 2025”, once an appointment process and orderly handover has been completed.

Santander UK's Board Chair has announced his departure from the bank. Santander confirmed that William Vereker, who took up the role in 2020, will step down during the course of 2025 "once a thorough appointment process and orderly handover have been completed".

LONDON - Santander UK Group Holdings PLC revealed today that its current Board Chair, William Vereker, plans to resign from his position on the Boards of Santander UK plc and Santander UK Group Holdings plc during 2025.

Santander UK chairman William Vereker is quitting his post as rumours swirl that the Spanish banking giant may be preparing for an exit from the UK.