Published by Global Banking & Finance Review®
Posted on November 19, 2025
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleLarry Summers resigns from Santander's advisory board after ties with Jeffrey Epstein surface, aiming to rebuild trust and repair relationships.
MADRID (Reuters) -Former U.S. Treasury Secretary Larry Summers has resigned from Santander's international advisory board he currently chaired, a Santander spokesperson said on Wednesday.
His resignation comes several days after the U.S. Congress released documents that showed Summers shared a close relationship with the late convicted sex offender Jeffrey Epstein.
Summers, also a former president of Harvard University, said on Monday he would step back from all public commitments, adding that the move was to allow him "to rebuild trust and repair relationships with the people closest to me."
He has been a member of Santander's international advisory board, which provides advice to the group in matters such as innovation, digital transformation, cybersecurity and new technologies, since 2016.
On Wednesday he said he had also resigned from the OpenAI board.
(Reporting by Jesús Aguado; Editing by Andrei Khalip and Tommy Reggiori Wilkes)
An advisory board is a group of individuals who provide strategic advice and expertise to a company or organization, helping to guide its direction and decision-making.
Digital transformation refers to the integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers.
Cybersecurity involves protecting computer systems, networks, and data from digital attacks, theft, and damage, ensuring the confidentiality, integrity, and availability of information.
A public commitment is a promise made by an individual or organization to undertake certain actions or uphold specific values, often to build trust and accountability with stakeholders.
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