Sovereign Bancorp, Inc. · Philadelphia, PA United States
Company Description
Phone: 610-320-8400
Fax: 610-320-8448
Rankings
- #469 in FORTUNE 500
View Sovereign Bancorp, Inc. Locations On A US Map
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This link will open in a new window Sovereign Bank reigns in the Northeast, where it has about 750 branches in eight states. The bank caters to individuals and small to midsized businesses, offering deposit products, credit cards, insurance, and investments, as well as commercial loans and mortgages (which together account for more than half of its total portfolio) and residential mortgages and equity loans (around a third). Sovereign Bank, which has grown by making some 30 acquisitions since 1990, also originates auto loans in the Southeast and Southwest. Spain-based
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Key Sovereign Bancorp, Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 11,000 |
Sovereign Bancorp, Inc. Executives
64 executives listed for Sovereign Bancorp, Inc.'s Philadelphia, PA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Gabriel Jaramillo | Network |
| SVP, CFO, Chief Administrative Officer, and Director | Kirk Walters | Network |
| EVP and Credit Risk Management Officer | M. Robert Rose | Network |
Competition
Competitive Landscape for Sovereign Bancorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Sovereign Bancorp, Inc. Competitors
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