Industry veteran Bruce Jackson has been named head of Santander auto finance, effective April 28.
Jackson will lead SCUSA’s core auto originations and serve alongside Shawn Allgood, who will remain head of Chrysler Capital and auto relationships. Both men will manage sales, originations and funding operations for their respective lines of business, according to a company release.
In his new role, Jackson will report directly to SCUSA Chief Executive Mahesh Aditya. Jackson was not available for additional comment at press time.
Prior to joining Santander, Jackson served as managing director and head of dealer services at Chase Auto, a position he’d held since 2013. He was previously responsible for managing a team of 1,100 employees, the P&L on the bank’s auto portfolio, which include consumer and commercial auto loans. Jackson has also held senior roles at Ally Financial, Bank of America, Toyota Motor Credit and WFS Financial.
The announcement comes on the heels of SCUSA’s near-record origination volume in 2020, which clocked in at $30.6 billion, 2% below the lenders’ record-breaking origination volume in 2019. Total core originations came in at $9.6 billion for full year 2020, down 4% when compared with 2019, but up 2% sequentially. During the company’s fourth-quarter earnings call earlier this month, Aditya noted that core loan originations had been strong since the outset of the pandemic, and that he expects volume increases to continue into 2021.
Santander Consumer USA has a managed portfolio of $50.7 billion.
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