The former head of the British Army is set to lead Santander’s bid to bolster its defence lending as the industry experiences soaring demand with nations upping spending.

General Sir Patrick Sanders was the chief of the general staff from 2022 to 2024 in the British Army and is set to join the Spanish-headquartered bank to lead its defence industry approach.

It comes amid a global push to hike defence investment due to rising geopolitical tensions.

President Donald Trump’s return to the White House has also pushed NATO nations to up their defence spending.

The UK will commit five per cent of GDP to defence by 2035, the government said earlier this year.

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