Ana Botín , the new chair of Banco Santander , you can start giving some clue to his future conduct on Monday, at the end of the holding of the special meeting Celebrating the bank. In his first public entity in front of the apparition, Ana Botín read the speech he plans to offer his father, Emilio Botín , who died last Tuesday at age 79 from a heart attack. The assembly remains in principle the agenda, in which the approval of the takeover of the Brazilian subsidiary exclusion and acceptance of minority shareholders is contained. After the assembly, all trust that Ana Botín can go to the press.
The main challenges are to strengthen banker geographical diversification of the group and increase profits. Sources close to the bank said that the choice of Javier Marín as CEO in April last year was for the future and in consideration of generational change. However, it is possible that it imposes a different style of management from its predecessor. Although only for age differences.
“The governance of former and current president are very similar.’s Successor will continue the bank, although it has more kid gloves” highlighted yesterday exdecano ESADE, Robert Tornabell. Emilio Botín had a very personalistic and presidential style. Possibly, Ana Botín delegate more. Although those who know her say she likes “to decide and has strong international vocation.” One of its strong points is the closeness and direct dialogue with funds operating in the City of London, listed as investors.
With the new European banking examinations and subsequent resistance tests the addition of the impending transfer of the supervisory role of the sector to the European Central Bank (ECB), the domestic scenario view virtually disappears as such, something that certainly did not ignore the progenitor of Ana. “If Emilio Botin has not bought anything Spain during the current crisis is that it has not been run, and now the nearest banking map is not the Spanish but European “confirmed an investment banker who worked with her about the challenges of the bank in the short and medium term.
In fact, at the informal meeting held Emilio Botín last weekend in Milan with a group of journalists did not rule out an international acquisition. He is always asking about corporate operations outside Spain responded something like that “is always on the radar.” The bank has critical mass in ten markets. United Kingdom, United States, Brazil, Mexico, Chile, Argentina, Spain, Portugal, Germany and Poland
During the six years that lasted the financial crisis, Emilio Botin has shown little interest in growing in Spain. What has not obviated, for example, to be given by choice in buying Catalunya Banc, which was ahead BBVA.
In addition to integrating its subsidiary Banesto and private banking as Banif, Santander has remained in the background in the corporate dance in Spain. It is the only institution of the six major that has limited leverage reducing the number of entities to increase their market share organically.
“If the international banks, such as Barclays, Citi and Lloyds, Spain has gone, that’s why international banks has endorsed the strategy Booty and have not seen a lot of value here, “
said Jose Carlos Diez, Professor of Economics at the University of Alcalá de Henares Reuters.
Despite the crisis, last year, the bank received 4,370 million profit and Emilio Botín defended in April regular meeting that the objective was to reach 9,000 million in the coming years, as the previous exercises to the financial crisis .
In June 2014, Red Bank posted a net profit of 2.756 million, 22.2% more than the same period last year. Of this amount 20% came from the UK, 19% in Brazil and Spain jumped to third place with 13%. Indeed, it was the first time that the UK-unity led by Ana Botín exceeded the carioca division. However, keep in mind that the Brazilian peso has depreciated in recent months.
In the past administration of President there are some shadows. In his day he rode the venture capital fund Suala, who had to convert to Impala after the bankruptcy of several of its subsidiaries, including the carrier Paconsa highlights. Another unsuccessful personal adventure was the creation of the business incubator Coverlink.
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