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Larry Summers resigns from Santander's advisory board, spokesperson says

Published by Global Banking & Finance Review

Posted on November 19, 2025

1 min read

· Last updated: January 20, 2026

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Larry Summers resigns from Santander's advisory board, spokesperson says
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MADRID (Reuters) -Former U.S. Treasury Secretary Larry Summers has resigned from Santander's international advisory board he currently chaired, a Santander spokesperson said on Wednesday. His

Larry Summers Leaves Santander Advisory Board Amid Controversy

MADRID (Reuters) -Former U.S. Treasury Secretary Larry Summers has resigned from Santander's international advisory board he currently chaired, a Santander spokesperson said on Wednesday.

His resignation comes several days after the U.S. Congress released documents that showed Summers shared a close relationship with the late convicted sex offender Jeffrey Epstein.

Summers, also a former president of Harvard University, said on Monday he would step back from all public commitments, adding that the move was to allow him "to rebuild trust and repair relationships with the people closest to me."

He has been a member of Santander's international advisory board, which provides advice to the group in matters such as innovation, digital transformation, cybersecurity and new technologies, since 2016.

On Wednesday he said he had also resigned from the OpenAI board.

(Reporting by Jesús Aguado; Editing by Andrei Khalip and Tommy Reggiori Wilkes)

Key Takeaways

  • Larry Summers resigns from Santander's advisory board.
  • Resignation follows revelations of ties with Jeffrey Epstein.
  • Summers aims to rebuild trust and repair relationships.
  • He also stepped down from the OpenAI board.
  • Summers has been with Santander since 2016.

Frequently Asked Questions

What is an advisory board?
An advisory board is a group of individuals who provide strategic advice and expertise to a company or organization, helping to guide its direction and decision-making.
What is digital transformation?
Digital transformation refers to the integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers.
What is cybersecurity?
Cybersecurity involves protecting computer systems, networks, and data from digital attacks, theft, and damage, ensuring the confidentiality, integrity, and availability of information.
What is a public commitment?
A public commitment is a promise made by an individual or organization to undertake certain actions or uphold specific values, often to build trust and accountability with stakeholders.

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