Santander has axed group chief executive Javier Marín and replaced him with former chief financial officer José Antonio Álvarez as part of a major leadership reshuffle.
José García Cantera, currently global head of the Santander Global Banking and Markets division, will replace Álvarez as CFO. Santander UK head of global wholesale banking Jacques Ripoll will take on Cantera’s former role.
The bank has also appointed Bruce Carnegie-Brown as first vice chairman and lead independent director of the board; Sol Daurella and Carlos Fernández as independent board directors; and Rodrigo Echenique as vice chairman.
The three new independent directors will fill the vacancies left by the death of Emilio Botín and the resignation of Fernando de Asúa and Abel Matutes.
It is the first significant move by former Santander UK chief executive Ana Botín, who was named chairman of the bank in September following her father’s death.
The appointments will take effect from 1 January and are subject to regulatory approval.