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Santander chairman Emilio Botin dies

Santander chairman Emilio Botin has died aged 79, the bank has announced.

The BBC reports Botin died of a heart attack last night. The board and the appointments remuneration committee are meeting today to appoint a new chairman.

The BBC says Botin is credited with turning what was a small regional bank in Spain into a banking giant.

Shares in the bank fell 1.6 per cent on the news, to 609p a share.

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