Santander North America has appointed Michael McDonough as its new head of working capital solutions, effective January 26.

McDonough joins following a decade at JP Morgan, where he was most recently part of the wholesale payments solutions, leading efforts to link together working capital solutions across the trade finance, treasury services, commercial card and merchant services and FX product sets for the bank’s corporate client base. Prior to that, he held numerous roles in trade and supply chain finance, including as head of trade for North America.

Welcoming McDonough to the role, Joseph Abruzzo, head of commercial banking at Santander North America, says in a LinkedIn post: “Growth requires expert talent. With over 20 years of working capital and supply chain finance experience, most recently at JP Morgan, Mike brings to us the unique combination of product expertise and strategic leadership that will help us deliver the digital payments, treasury management, and risk mitigation solutions our clients need.”

JP Morgan is yet to announce McDonough’s replacement.