Upstart (NASDAQ: UPST) appointed Tim Wennes to its board of directors, effective May 28, 2026, according to a company statement. Wennes previously served as president and CEO of Santander Holdings USA, including Santander Bank N.A.

Wennes brings over 35 years of financial services experience to the AI lending marketplace company. At Santander, he oversaw businesses with assets exceeding $200 billion and led digital transformation of the bank's US operations. He previously held executive roles at MUFG Union Bank and Countrywide Bank.

The appointment coincides with Jeff Huber stepping down from Upstart's board after five years of service. Paul Gu, Upstart's CEO, cited Wennes' consumer lending background, particularly in automotive lending, as aligned with the company's expansion plans.

Wennes currently serves on the board of Cushman & Wakefield Ltd. He holds a bachelor's degree from the University of Southern California and an MBA from California State University, Fullerton.

Upstart operates an AI-powered lending platform that connects consumers with over 100 banks and credit unions. The company reports that more than 90% of loans processed through its system are fully automated.