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Banco Santander Names New CEO

Upon acceptance of the voluntary resignation from outgoing Banco Santander (NYSE: SAN  ) CEO Alfredo Saenz Abad, the bank has subsequently named Javier Marin Romano its new CEO, Banco Santander announced today.

Before being named Santander's CEO, Marin most recently led the global insurance, asset management, and private banking divisions of the eurozone's largest banking institution, as measured by market capitalization. Marin joined Banco Santander in 1991.

Outgoing CEO Saenz held the bank's senior leadership position since 2002, when he was also named vice chairman of Santander's board, He joined the bank in 1994. Saenz will step down from his board seat upon completion of the leadership transition to Marin.

Banco Santander's board of directors expressed "its recognition of and gratitude for Alfredo Saenz's extraordinary achievements since joining the Group and, in particular, as chief executive of Banco Santander."

No date was announced for when Marin will assume his new CEO responsibilities.

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9/28/2016 4:02 PM
SAN $4.43 Up +0.08 +1.84%
Banco Santander Ce… CAPS Rating: ****