Ex-Santander banker joins Cerberus as senior advisor

Stephen Jones has moved to Cerberus following his resignation from Santander last year.

Former Santander chief financial officer and Barclays banker Stephen Jones has joined Cerberus Capital Management as a senior advisor.

He is currently managing director at consultant firm Barnfather Jones, a firm he joined in March. Jones is due to take up his role at Cerberus in August, according to his LinkedIn profile.

Jones served as CFO at Santander from 2012 and resigned last year. Before that he worked at Barclays as head of investor relations following a six-year stint as well as head of the bank’s European, Middle East and Asian operations.

Jones will be responsible for sourcing opportunities across the UK and Europe, according to a report from Sky News. He will be involved with managing the firm’s portfolio of loans acquired from UK Asset Resolution in November valued at £13 billion ($19.8 billion; €18.4 billion). The portfolio comprises of performing and non-performing residential mortgages and unsecured loans from the legacy book of Northern Rock Asset Management.

Cerberus did not respond to a request for comment before publication.

Last month, the firm made a final bid for GE Money Bank, the French consumer finance business of GE Capital. No purchase price was disclosed, but the transaction is expected to be finalised by the end of this year. It is the latest move from GE to sell off all non-industrial operations of the company, signing agreements of around $177 billion in assets since it announced the sell-off in April last year.