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The Sovereign Bank brand and its accompanying antique lantern logo will disappear from the local landscape this fall as the Boston-based regional bank takes on the name of its parent, Spanish banking giant Santander.
Santander signs and its flame symbolwill start to appear on branch buildings on Oct. 17, bank officials plan to announce Wednesday.
The name change is part of a larger $200 million strategy to give Santander’s US subsidiary a face lift as the company lays 1 million square feet of new carpeting, installs 9,500 new lobby chairs, goes through 32,000 gallons of red paint. The bank also plans to upgrade its ATMs, streamline its Website, and introduce new products.
Santander acquired Sovereign in 2009.