Santander UK management reshuffle ahead of float Stephen Jones, head of strategy and regulatory affairs, has been appointed chief financial officer and an executive director of Santander UK, while Steve Pateman, currently executive director in charge of UK corporate, commercial and business banking has been made head of UK banking. The changes come as Santander UK gears up for a flotation on the London market that is expected to raise in excess of £3bn. The listing had been expected to come last year, but was postponed due to poor market conditions. Mr Jones appointment is intended to strengthen the bank's finance department, though he will retain his responsibility for regulatory affairs and pensions. Justo Gomez, Santander UK's finance director, will now report to Mr Jones. "This is not about preparing for a flotation imminently, but about preparing the management structure of the bank to be a publicly-listed company," said one source. The Spanish bank has become one of the largest banking groups in the UK since entering the British market in 2004 with the acquisition of Abbey National. Six years later, Santander bought the ongoing business of collapsed lender Bradford & Bingley as well as Alliance & Leicester. Lloyds Banking Group chief executive, Antonio Horta-Osorio, oversaw the build-up of the bank before joining the state-backed lender in late 2010. He was replaced by Ana Botín, who has been charged with continuing the preparation for Santander UK's flotation.