Based in London, Michael will be responsible for product management and complex sales solutioning of the full suite of transaction banking products offered to high growth mid-market and corporate clients, including domestic and international payments and receivables, e-channels, liquidity and information reporting, e-commerce and alternative payments products. He joins Santander Corporate & Commercial Bank’s Products & International Business leadership team, reporting to John Carroll.

Michael previously worked for Citi Treasury & Trade Solutions, Barclays and global consulting firm Capco, and has over 30 years of experience working in the sector.

John Carroll, Managing Director, Products and International Business, Santander Corporate & Commercial, said: “I am delighted to welcome Michael to our team. Santander Corporate & Commercial has established itself as a major supporter of UK businesses and is committed to building long-lasting relationships with our customers so that we are able to provide tailored support at every stage of their business.

“We are committed to growing our business to provide increasing subject matter expertise and high performance leadership capability, as our own business continues to expand. Michael is a highly experienced international banker with strong transaction banking and cash management expertise and I am confident he will be a huge success in his new role.”

Commenting on his new role, Michael Vallance said: “In a globalised and digitised world, clients demand faster, better and more secure transaction banking products to power their growth. Santander is committed to providing more innovative transaction banking services to support its clients’ trading performance in a seamless, efficient and cost effective manner.

“I was attracted to Santander – as not only is Transaction Banking a critical and core part of the Santander Corporate and Commercial customer proposition – but also the bank’s track record in supporting SMEs and Corporates in their plans to develop internationally.”