Banco Santander has nominated Glenn Hutchins as a new independent board director. In addition, he will join the appointments committee, the remuneration committee and the innovation and technology committee.

Hutchins co-founded Silver Lake, a global private equity firm concentrating on technology investments across the US, Europe and Asia. He is also chair of North Island Ventures, a crypto-focused investment firm.

Hutchins was a board member of the Federal Reserve Bank of New York (FRBNY) for over nine years, until early last year. He is currently a director of AT&T and has previously served on the boards of Virtu Financial and Nasdaq, among other companies.

He currently serves as vice chair of the Obama Foundation, and in the past was an economic policy and health care adviser in President Clinton’s transition and White House.

Ana Botín, chair of Banco Santander, said: “We are very pleased to have Glenn Hutchins join our board of directors. Glenn has had a remarkable career and brings a deep understanding of the technology and finance sectors and how the two are increasingly interrelated. He has a global vision of the challenges and opportunities ahead and will help us drive our transformation.”