Santander Consumer USA Holdings has named Ramamurthy Lakshmana Prasad as chief risk officer, succeeding Joshua Baer, who will serve as head of pricing and strategy.

The appointments are effective Jan. 1, 2021. Both Prasad and Baer will continue to serve on the Santander Consumer leadership team and report directly to President and CEO Mahesh Aditya.

Prasad has served as Santander Consumer’s deputy chief risk officer since February 2020. Prior to joining Santander, he served as head of global payments risk and global head of risk services for Visa. In his 20-plus-years career, Prasad has also held senior enterprise leadership roles in credit and risk at Standard Chartered Bank and Citigroup.