The officers and directors of Santander are still under the shock which has involved the death of Emilio Botin, the leader of the organization for 28 years and manager for the last 50 Replace a figure like this is complicated. Ana Botin, the new president, he knows and is aware that it will take over hard to prevent management teams out of steam or doubt their leadership.
The continuity mark the first steps of Ana Booty, according to all sources. Not surprisingly, she, as a member of the Executive Committee, is a partner in the strategy of the organization so far.
However, the age difference with his father, 53 years old compared to almost 80, does arriving almost forced changes in some aspects of management.
It is still early for the new head has a closed book with his subjects, but executives who know her well consider that bet on further internationalization of group as one of its priorities. Santander is in 10 countries with a significant market share, but Ana Botin, who speaks English perfectly, has an education and developed his work with an international vision.
This factor suggests its relatives will raise the bank’s presence outside Spain. In fact, the company on Monday approved the repurchase of 25% of Santander Brasil, which already represents an investment of up to 4,700 million in the Latin American country.
Ana Botín has come when missing a month for the European Central Bank (ECB) made public examinations to the solvency of the 124 largest European banks. Then you will see the map of the weak bodies and the possible emergence of shopping opportunities. All point to Germany as the country that best complements the consumer banking division of Santander, mainly focused on the purchase of cars.
The Germanic country is attractive for savings accumulate its citizens and by the specific weight in the European GDP. The problem is that entities appear with capital problems may have big holes and now is not easy to capture equity market for this type of operation. In addition, German banks have very small market shares by the number of entities competing business and margins are low.
In the area of northern Europe, Santander is already in Poland, where The unit provides 6% of group profits, half of what is now Spain provides.
According to some experts consulted, Russia has been a country in which Ana Botín has had special interest. In fact, in June 2006, the company announced the acquisition of a small bank consumer finance for cars. However, this project was reduced to a minimum over time by legal problems presented by the financial market of Moscow. Emilio Botín did not support this entry, but note that some Ana Patricia itself supported it strongly. It has been eight years and all can be retested.
Asia is one of the slopes of Santander subjects. Enter this market is extremely complex. So far, Santander has managed a small step because the Chinese banking regulator (CBRC) he authorized the creation of the first independent international auto finance company in the Asian giant, 50% in association with Anhui Jianghuai Automobile (JAC ), one of the leading Chinese manufacturers, with an investment of 62 million euros.
However, Ana Botín know other Asian countries, not only China, which attempted to create an investment bank Santander unsuccessfully . Some believe it could now resume the subject, although focused on retail banking.
In addition to geographical issues, it is expected that the new president rejuvenate the board. Among the veterans listed Asúa Fernando, vice president, born in Madrid in 1932, Abel Matutes, external director (independent), born in 1941 in Ibiza and Juan Miguel Villar Mir, external director (independent), also from Madrid, 1931 . Nobody expects rapid change, but the arrival of new members from abroad who could replace some of the current.
Sources of the entity do not rule out any of the current directors would arise directly Ana Booty and his presence on the board is due to a very close relationship they had with their father and now with the new phase may give way to others. Some sources also believe that some managers may be in a similar situation and can understand that his time is over.
In addition to possible changes in the bridge, the new president is facing a new stage of management where his good understanding with the CEO, Javier Marín is fundamental. Those who know say that the bank Emilio Botin named him aware that he had to understand his daughter, so no surprises are expected. Ana Botín, that if, should manage the strategy and looking less to detail, which is a change from their previous presidencies in Banesto and Santander UK.
Finally, some point to the need to convince institutional investors who believe that is ranked just being her father’s daughter. Ana Botín has going for it is well known to the investment community and the response of the entity is to be the share price that reflects the confidence or not investors Ana Botín.
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