All bets who crossed the analysts during Wednesday morning pointed to Ana Patricia Botín as successor to his father as head of Banco Santander, a roadmap which apparently had been fulfilled next year not be the death of Emilio Botín.
The absence of surprises, with preparation and experience so far CEO of the subsidiary of Santander UK have generally been well rated by analysts market, which does not mean that the expectation for their first step toward longer in office is maximum.
A priori, however, consulted experts do not expect big news on the day of its release, the special meeting on Monday, although some changes indicate that the entity would star in the medium term.
P. What message the group has sent analysts following the appointment of the new president?
R. Financial and Investor Relations group director, José Antonio Álvarez, officially announced the appointment analysts on Wednesday afternoon in a statement without questions in which he said the group kept in force its current strategy.
P. How analysts have valued the choice of Ana Patricia Botín as successor to his father?
R. N + 1 analysts believe the group had only two clear alternatives, maintain leadership Botín family or opt for one of the three vice (Matías Rodríguez Inciarte, Fernando Asúa or Guillermo de la Dehesa), and they were all a guarantee for the company given its financial expertise and Knowledge of the group. The bulk of experts consulted welcomed the decision taken by the continuous line and preparation ensures that counts Ana Patricia Botin to take office.
P. What do you think of his career in affiliate UK
R. Citigroup analysts highlight their successes in capturing customers and reduce the risk in this unit. Ana Botín took office in 2010 after the signing of his predecessor, Antonio Horta-Osório, Lloyds and addressed the merger of the three acquisitions in the country (Abbey, Alliance & amp; Leicester and Bradford & amp; Bingley) becoming the subsidiary the most profitable British group (20% reported their overall benefits). Nevertheless, some analysts argue that the City of London of his good image derives from his predestination to the presidency of the group and that the true test will come now.
P. What will happen now with the British subsidiary of Santander?
R. The great unfinished business of Santander UK, which will “as well as expected” according to the latest report from Nomura, is the IPO, the market expects 2015 The operation, which under the new UK regulations shall be made by separating the retail business investment probably will fall to Nathan Bostock, who comes from RBS and which currently acts as Acting CEO.
P. What strategic changes expected to adopt the new president?
R. “No changes to the view,” analysts predicted N + 1 in its report Wednesday, noting that Booty father “put the house in order” and do not expect changes in “strategic direction” of the group. “After years of increasing the size and geographical presence of the bank, Santander is now focused on profitability and creating shareholder value, and the cycle is now in favor,” they argue. “Everyone wants to leave his legacy. But the institution already knows what to do in the next five years, “says the analyst of a large international financial house, he prefers not appear identified, predicting that it will be after this period begins when Ana Patricia Botin to leave his personal stamp in the house. “In the longer term, given his history,” Citi experts agree, is expected to intensify the commercial strategy in the UK, Mexico and Brazil; bet to raise its market share in Spain, particularly hard in business for SMEs, large companies and consumer finance.
P. What other hierarchical movements could occur in the dome? _
R. “We believe the CEO Javier Marín keep the daily management” assume from N + one. Citigroup, meanwhile, highlights the emphasis of the group that the current board has “complete confidence” Ana Botin, who “should minimize risks by avoiding unexpected changes in the short term.” Other analysts point out that the experience of the board and management of Santander is a safety net that guarantees the good work of the group even predict a gradual generational change in the medium term. The names of José García Cantera (1966), which was number two Ana Patricia Botin while presiding Banesto and is currently responsible for the wholesale banking division of Santander, or Javier San Félix (1967), CEO of commercial banking group , ringing in the analysts as some of the young talent with potential.
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