The change, which applies to the division known as Corporate and Investment Banking, comes after Santander raised variable compensation by about 10% on average last year, Bloomberg News has reported.

He also said Santander was "comfortable today" with current resources deployed at its corporate investment bank in the U.S. following its expansion after last year hiring former executives from ...

The U.S. market factored heavily into the overall strategy, with a focus on reducing funding costs and driving up fee income in corporate and investment banking as well as wealth management. "For ...