Emilio Botín, in a file photo. / EFE
Emilio Botin, chairman Banco Santander over the past three decades, has died in Madrid at age 79 because of a heart attack. The board of directors of the financial institution is meeting to appoint the new president, according to a statement sent by the bank to the National Securities Market Commission. His daughter, Ana Patricia, replaced him as president after being elected unanimously by the Council.
The note Santander confirming the death was dated Boadilla del Monte (Madrid) and was released at 8:45 ( Spanish CET). The banker remains are being moved to his hometown, Santander, where the funeral will be held Saturday, sources reported on the entity. The event will be celebrated at 16:30 in Santander Cathedral, but the desire of the family was performing the religious ceremony in the parish of St. Lucia, very close to the bank’s headquarters and the Botín Foundation, but was already occupied.
The favorite to succeed him was from the beginning Ana Patricia Botin, 53, current CEO of Santander UK. The proposed appointments to the office and, in the afternoon, the board ratified as president. After confirming the death of Booty, the group’s actions have you come back to 1.8%, but then have moderate trimming.
Emilio Botin, born in 1934, was great-grandson, grandson, nephew, son , brother and father of bankers, but he insisted on adding it was a universal banker to dry. He entered the bank at age 24 in 1958 and never stopped working since. In 1960 he joined the board and became president in 1986 In 2007, the bank’s charter changed to not retire at age 72, as they provided for the entity. It was one of the few financial managers in addition to assuming the presidency of the organization, was its chief executive and largest shareholder, revealing his manhood action
Alfredo Saenz, former CEO, leaves the house of Emilio Botín. / BERNARDO PEREZ
Under his leadership, became Santander (the entity is a shareholder in Prisa, the editor COUNTRY group with 5.38% of the capital) in the largest bank in the euro zone by market capitalization. He was able to create from a small local lender largest bank in the eurozone. To do this, he carried out a policy of aggressive purchases. Within this expansion, acquired Banesto, absorbed Central Hispano and outside Spain, took the Abbey, purchase in 2004 was the first major purchase of a Spanish company in the UK market, and the American Sovereign Bank. However, it has been in Latin America where the bank had set their goal, especially in Brazil.
In his resume also includes some issues with the law. Among them, the so-called trial loan transfers, opaque financial instruments that the Treasury Santander offered to customers, and took him up the stairs of the National Court. I also recently had to regularize accounts in Switzerland after his appearance with five of his sons and his brother among 659 Spanish taxpayers who hid more than 6,000 million in the Swiss bank subsidiary of HSBC, HSBC Private Bank. Both processes were finally filed.
Booty, an economist and a law degree from the University of Deusto, planned in your schedule on Wednesday to attend the presentation in Santander Financial City of a Velazquez, The Education of the Virgin , restored with funds from the bank. The banker was closely linked to the university and the scientific community, as well as sport, where their relationship was very popular with Formula 1
.
The banker was married to Paloma O’Shea, O’Shea Marquesa in 2008 by King Juan Carlos I. He had six children: Ana Patricia, Carmen, Emilio, Carolina, Paloma and Francisco Javier.
The death of banker announced while in Congress began the weekly session of Government control. President Mariano Rajoy, expressed his regret: “Emilio Botín has been a great ambassador of the brand Spain”. “The bank presiding Mr. Botín is the most important of our country and I hope that after his death the best of things are resolved and remain so”, i nforma A. Díez.
Meanwhile, the opposition leader and secretary general of the PSOE, Pedro Sanchez, expressed his “sadness” at the death of Booty and conveyed its sympathy to the families and loved ones: “A hug your family and your loved ones in these hard times. “
Meanwhile, the chairman of BBVA, Francisco González, expressed in Europa Press reported:” I want to convey on behalf of BBVA our condolences on the passing Emilio Botín. sorry for your loss and we join the grief of his family and the Santander Group right now. “
The Bank of Spain has sent a note regretting the sudden death of the banker, who considered “an exceptional figure in the international financial system.” The agency recalled that during his presidency, Santander launched a policy of expansion and diversification in and out of Spain has led the institution to be, for their volume of assets, “the first Spanish bank and one of the largest entities world, with a very strong presence in, among other countries, the UK, Brazil, Mexico, USA, Portugal and Chile. “
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