THE finance chief lined up to steer Santander UK towards a flotation has quit the bank, with little indication that a listing is on the horizon.
Stephen Jones, who joined Santander UK as head of strategy and regulatory affairs before taking on the CFO role a year later in 2012, will step down in October.
His appointment had been widely reported as linked closely with a stock market flotation for the UK arm of the bank, but several years later there appears no movement on the issue.
Jones is quoted in reports as saying that, without an IPO in the near future, he will take a career break and spend time with his family.
In a brief statement issued to the London Stock Exchange today, Santander said Jones will remain in the role until its UK FD Antonio Roman takes his place. Santander UK still has preference shares listed on the exchange.
Jones was named as CFO in what had been viewed as beefing up the UK’s board structure in preparation for a flotation. He stepped in above its then UK finance director Justo Gomez, reported The Telegraph at the time.