38 banking


Santander: Building strong Thames Valley relationships


Santander is in its fifth year of being a UK corporate and commercial banking presence. As it consolidates expansion across the Thames Valley region, John Burbedge spoke to regional director Cheryl Adams


Santander UK is different to the other banks, and Santander’s Thames Valley operations are somewhat different to its other regions, says Cheryl Adams – an anomaly herself as the only woman currently heading a Santander region.


While bridging the gender gap is a major focus within her Thames Valley work (more of that later), Adams suggests the way her team builds strong and mutually-valued customer relationships is the key differential.


“We are now seeing competition back in the marketplace, which is good for customers, but for us the challenge is not on pricing, it is still about creating the best customer relationships.”


Adams’ words echo Santander Group's executive chairman Ana Botín speaking at the bank’s SME Summit held in Reading in May. She stressed that the right staff and relationships with business partners and advisers would be key to progress in the future digital world, particularly for small businesses.


And the Thames Valley, with its multinationals, fast- growing SMEs, hi-tech and comms companies, is at the heart of that digital revolution.


The customer relationship focus of Santander’s 50-strong Thames Valley team can be seen throughout its regional operations spanning from Wiltshire to west London, Oxfordshire to north Hampshire.


Personal customer focus


Every Santander business customer is viewed as unique. Every customer has a dedicated relationship director.


It’s not by chance that Santander’s Slough office is situated close to SEGRO’s trading estate, the Oxford office co-located in Santander’s city centre bank, Basingstoke’s in its Festival Place bank, and Reading’s within the dynamic Forbury Square business area.


“We make it easy for local customers to find us because different Thames Valley areas have different markets.” As an example, the Oxford office has a specialist agriculture relationship director; the Reading office is home to a dedicated international trade director covering all the Thames Valley.


That personal customer focus also helped the Thames Valley team overcome negative post- recession feelings about banks. By showing it cared, listening and understanding customers’


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individual business growth plans, explaining the Santander proposition, answering queries and providing solutions, the team steadily grew its customerbase.


Dedicated implementation managers now ensure smooth banking transitions for customers moving to Santander. Santander’s inhouse credit partners meet customers face-to-face to enable quicker ‘one-step-up’ decision-making.


Santander's culture


“We also put more people on the ground locally than other Thames Valley banks,” says Adams. “All the main banks are the same, except us.”


She should know. Adams has 27 years banking sector experience. She grasped the opportunity to lead a Reading-based corporate and commercial banking team for Santander UK in 2012.


“Santander was different. There was a chance to influence its culture and policies. It felt entrepreneurial, like I was setting up my own business,” explains Adams. “While the other banks were contracting, we were growing.”


Prescient words, since the Thames Valley team now concentrates on assisting early year businesses with £250,000 to £50 million turnovers to grow further – not least through the successful Breakthrough initiative providing funding for fast-growth SMEs, but also access to trade missions, business masterclasses, and networking support.


Santander’s lending over the past four years actually grew by an average of 20% per annum in a declining market. The Thames Valley team did more Breakthrough deals last year than any other Santander region.


The team also runs an Entrepreneurs’ Club with local businesses in Reading and Oxford, aiming to provide networking links and resolve business challenges.


In April at the 2014 Thames Valley Deals Awards, having facilitated £265m of new loans during 2013, Adams’ team received an Outstanding Performance honour in ‘Bank of the Year’ category.


“We have definitely got our commercial banking message out there, but there’s still more to do.”


And that gender gap?


Adams is Santander’s Women in Business ambassador for the Thames Valley and South West.


THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2014


“Nationally, Santander is skewed towards women but they are generally in clerical not decision-making roles.” Yet research indicates that companies with more women in top management positions tend to have better organisational and financial performance.


“There seems to be a massive lack of confidence among women about applying for senior roles, so within Santander we are encouraging them with coaching and development.”


Suffice to say that the Thames Valley office has female relationship directors – industry experienced Diane Fairbairn and newly promoted Julie Reay – and several women senior managers and relationship managers, a role that Adams believes suits feminine business attributes such as empathy.


Adams*, supported by her divisional MD Mike Reeves, is now driving forward the Women in Business proposition externally.


The Thames Valley team also enjoys community involvement and has given practical assistance to the GrowAllot scheme in Reading, a Windsor animal sanctuary, mock recruitment interviews at Newlands Girls School in Maidenhead, and undertaken local charity fundraising activities.


Interestingly, Adams’ team broadly mirrors its customer demographic, both in gender-mix and age. “I deliberately recruit people with good Thames Valley knowledge, and banking experience is preferable. But, regardless of gender, if someone has the technical abilities but no personality, drive and ambition they are unlikely to suit our Santander team.”


* Adams was highly commended in The Business Magazine 2014 Women in Business Awards.


Details: Cheryl Adams 0118-9211641 cheryl.adams@santander.co.uk


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