Santander Consumer USA Holdings Inc. announced that in 2016, it will be opening Santander Consumer International Puerto Rico, a new office and servicing center for certain performing loan portfolios.
Santander Consumer International Puerto Rico will operate under Law 273-2012, and has projected an incremental employee capacity of up to 500 full-time employees in a three-year period. To further develop and optimize SC’s best-in-class servicing platform, Puerto Rico was identified as an optimal location to expand servicing operations, the financial institution said.
“This investment represents a vote of confidence by Santander in Puerto Rico’s future and its people. In a difficult economic environment, Santander is investing and creating jobs,” Santander Puerto Rico President Fredy Molfino said.
The decision to establish this new center of operations was based on several advantages specific to Puerto Rico, said Jason Kulas, CEO of Santander Consumer.
“A qualified work force, geographical and time-zone diversification, proximity to existing Santancer Consumer servicing vendors, sophisticated IT infrastructure, a favorable set of tax incentives and a strong Santander presence on the island were determining factors,” said Kulas.