Michael Vallance has been appointed as the new head of Santander’s UK transaction banking and cash management division.

Vallance joins Santander Corporate and Commercial with more than 30 years of experience in the sector. He has previously worked within Citi’s treasury and trade solutions team, as well as for Barclays. Most recently, he worked as managing principal at global consulting firm Capco, with a focus on transaction banking and payments. Vallance has also worked at Santander in the past – in 2006 he was briefly head of strategy and development.

In his new role, Vallance will be in charge of the management and sale of Santander’s transaction banking products offered to high-growth mid-market and corporate clients, including domestic and international payments and receivables, e-channels, liquidity and information reporting, e-commerce and alternative payments products.

Based in London, Vallance will report to John Carroll, managing director of products and international business.

“I am delighted to welcome Michael to our team,” Carroll says in a press release. “We are committed to growing our business to provide increasing subject matter expertise and high performance leadership capability, as our own business continues to expand. Michael is a highly experienced international banker with strong transaction banking and cash management expertise and I am confident he will be a huge success in his new role.”

Commenting on his new role, Vallance says: “I was attracted to Santander – as not only is transaction banking a critical and core part of the Santander Corporate and Commercial customer proposition – but also the bank’s track record in supporting SMEs and corporates in their plans to develop internationally.”