“What’s next?” A conversation with Ross Cruse.
It’s almost that time of year again. The evenings are drawing in, the hour has gone back and the wooden huts of Manchester’s Christmas markets have started to sprout as if from nowhere! But before the madness truly begins, we found time to catch up with recently promoted Ross Cruse, Chief of Staff, Corporate & Commercial Banking at Santander. And what an interesting conversation it was. So sit down, cosy up and read on…!
Leaving the law behind
For a solicitor, giving up one’s practising certificate is quite a big deal. After years of training, qualification and a career in private practice, leaving the roll is not an insignificant step. But that’s what Ross Cruse, former Head of Transformation & Change in Corporate and Commercial Banking at Santander UK has opted to do. “I’m not renewing this year”, he says as we settle down in a cosy little bistro in Liverpool. The London restructuring lawyer who joined the famous Spanish lender in 2018 has officially said goodbye to the legal profession. Though you don’t get the sense he misses it.
“Being a lawyer gives you discipline and resilience,” he reflects. “You learn attention to detail and how to handle challenges under pressure. Those habits stay with you… However, this role is more about leadership and soft skills.” Reporting into Santander’s COO for corporate
banking, Ross heads a team of around forty, spread across more than a dozen locations. However, instead of lawyers, he now leads a team of business analysts, project managers and programme managers who deliver key digital transformation projects for the corporate side of the bank. These might involve anything from improving online channels or streamlining digital lending journeys to re-engineering processes.
The aim is to deliver value faster to commercial customers, enabling the bank to service and grow its core corporate client base of larger SMEs and mid- to large-sized corporates. All this sounds rather exciting, if a little daunting. Especially as before becoming Head of
Transformation & Change, when he first joined Santander UK in 2018, Ross was initially only responsible for two other people! He admits that leadership has proven to be the hardest learning curve. “As a lawyer, I didn’t really manage people. Suddenly I found myself shouldering the problems and opportunities of forty others. You learn fast it isn’t about knowing the most,” he reflects. “It’s about listening, supporting and enabling.”
Santander’s technology strategy can be understood against the backdrop of a more targeted approach towards growing its corporate presence in recent years. In the past, the aim had been rapid growth and breaking into the ‘big four’. However, it became clear that it would be a struggle to compete with the long established players. After all, when Santander absorbed Abbey National, Alliance & Leicester, and Bradford & Bingley in the late 2000s, it did not inherit a significant corporate and commercial book. It was therefore very difficult for a relative newcomer to mount a serious challenge to HSBC and Barclays and the like.
Instead of rapid expansion, therefore, they have now chosen selective growth, leveraging the wider Santander Group network and focusing on high growth, event-driven clients with international ambitions which operate in sectors where they could drive the most mutual value as growth partners. “We went from a ‘grow at any cost’ mentality,” as Ross explains “to being far more selective.” This quality over quantity approach meant that while Santander may not boast the sheer scale of its rivals it has been able to carve out a distinctive niche. Moreover, this has enabled it to lower its risk profile and achieve consistent growth. In many ways, it’s a positive example how leveraging technology has helped the bank to successfully execute a strategy which plays to its strengths.
However, whilst tech plays a critical role here, so too does the human factor. The very nature of Ross’s work means that there is always a strong strategic organisational element which runs parallel to the technology aspect. “Tech is the bread and butter,” he notes, “but change
isn’t just about tech,” he says. “It’s about people and our clients — helping them adapt, supporting them through uncertainty, and making sure we’ve got the right capabilities and business infrastructure in place.” But being at the intersection where technology, change and people meet is not always a comfortable place to be. “Some people see change as opportunity; others find it tough. You’ve got to be mindful of both.” Ross observes.
Adding an extra layer of complexity is the fact that his team is scattered across the UK from London and Milton Keynes to Bradford, Birmingham and Glasgow. As with many businesses, COVID reshaped office working. When Ross joined Santander in 2018, there was a
planned £90m rebuild of the office in Bootle in Liverpool. However, this was shelved in 2020 when it became clear that the world had changed and hybrid working at scale was the new reality. Today, Santander mandates three days a week in the office, though Ross often does four, travelling between sites. “Five years ago, few people wanted to be back in the office,” he says. “Now, there’s a swing back — people are realising the value of connection.”
Ross is currently overseeing an impressive £20m of projects across his business area. This means he has more than his fair share of spinning plates at any given time. But how does he get the cash? “Every year, we pitch for investment,” he explains. “It’s a bit like Dragons’ Den. You make the case for what your projects will deliver — the risk outcomes, the financial ROI, the client experience benefit — and then once you receive the investment, you report back on that plan to the UK Executive Committee periodically.”
It’s not for the fainthearted, Ross acknowledges. “you’re constantly challenged to prove the value of what you’re doing, and the relative merit compared to other priorities.”
Rather unsurprisingly, the conversation turns to AI. It’s clear, like many in this sector, he sees huge potential
for its deployment. “We’re looking at how AI can help with everything from analysing client transactions to improving risk decisions. But we’re doing it responsibly,” he adds “within regulation and within our risk appetite.” He goes on to describe how teams are learning to use
it to save time and generate insights as well as deploying it for market research, and client prospecting. Predicting client behaviour and transaction patterns are also exciting areas enabling relationship managers to hone in on clients which may need more assistance. “You’ll always need the human touch,” he adds, “but AI will help us use our time better to appreciate when and to who that human touch should be given to next. It’s about augmentation, not replacement.” Ross’s career has moved on substantially from when he joined the bank eight years ago. His prior role at Santander UK as Head of Securities was “very lawyerly,” as he describes it – focusing on documentation and systems. However, it did lead to bigger things. During the global pandemic, he led on a bank-wide project delivering bounce-back loans to businesses
of all sizes as well as sponsoring a major system migration. These initiatives ultimately opened the door to sponsoring larger change projects within the bank.
“I wanted more breadth, more influence,” Ross notes. “There was a danger of being typecast in a legal role. But opportunities kept opening.”
This is something he has always been thankful for he feels fortunate to be working in a company where his skills are truly recognised and nurtured. Does he want more? “I’ve always been aspirational. But I’m not rushing. I’m lucky to have had the opportunity to present to Senior Management and Executive audiences regularly. It’s about doing this job well and seeing where that takes me,” he says philosophically. What is perhaps most striking, is just how much Ross’s role has evolved in a relatively short space of time. His move in-house is a fantastic example of how pathways can open, which previously weren’t even thought of. One thing is for certain, whilst his legal career may be disappearing in the rear-view mirror, there’s plenty more adventure on the road ahead!
Since speaking to Ross, he has taken another turn on that road by taking up the role of Chief of Staff for Corporate & Commercial Banking at Santander UK. He is now a member of the Senior Management Team and supports the Corporate & Commercial Banking CEO closely across all activities.