Spanish banking giant Santander has named Ana Patricia Botin as its new chairman, replacing her father Emilio Botin who died of a heart attack after nearly 30 years at its helm.
Ms Botin, who is the present chief executive of Santander UK, is the fourth generation of the family to take the helm, which has been run by the dynasty for 105 years.
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"The appointments and remuneration committee considered Ana Botin is the most appropriate person, given her personal and professional qualities, experience, track record in the group and her unanimous recognition both in Spain and internationally," the bank said following a board meeting.
Terry Burns, chairman of Santander UK, applauded Ms Botin’s leadership of the British business.
UK finance director Nathan Bostock Nathan Bostock will become interim chief executive of Santander UK until the bank names a replacement. The UK arm is also looking for a new chairman.
Mr Botin oversaw the rise of his family’s bank, Grupo Santander, from a provincial lender in northern Spain to become the biggest by value in the eurozone through a series of acquisitions.
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By GlobalDataThe group now has a market capitalisation of nearly EUR93bn.
