Santander has named Héctor Grisi its next chief executive, promoting one of its top regional executives to work alongside executive chair Ana Botín and drawing a line under the failed appointment of Andrea Orcel more than three years ago.

Grisi, who is chief executive of Mexico and head of the bank’s North American operations, joined Santander in 2015 from Credit Suisse, where he was an investment banker. He will start in January 2023 and replace José Antonio álvarez, who has been in the role since 2014, the lender said on Friday.

The 55-year-old has helped turn around Santander’s US business and return it to profitability, which for years was found to have serious deficiencies in capital planning and risk management by regulators. He also improved earnings in Mexico and is overseeing the bank’s potential acquisition of Citigroup’s retail operations in the country.