Alfredo Sáenz Abad informed the board of directors today of his voluntary resignation as vice chairman and chief executive officer, Banco Santander said in a press release. He is also leaving the board.
The board has agreed to name Javier Marín Romano chief executive. Marín joined the Group in 1991 and is currently senior executive vice president of the bank and head of the global insurance, asset management and private banking division.
Alfredo Sáenz joined Grupo Santander in 1994, when it acquired Banesto through an auction. He was executive chairman of the unit until 2002, when he was named vice chairman and chief executive of Banco Santander.
The board of directors expressed its recognition of and gratitude for Alfredo Sáenz’s extraordinary achievements since joining the Group and, in particular, as chief executive of Banco Santander.
During Alfredo Saenz’ tenure as chief executive of the bank, Grupo Santander has nearly quadrupled in size, growing in assets from EUR 358.138 billion in 2001 to 1.25 trillion and in managed funds from EUR 453.384 billion to EUR 1.38 trillion, and became the largest bank in the euro zone by market capitalization.
The Board of Directors also agreed to name Matías Rodríguez Inciarte second vice chairman. Matías Rodríguez Inciarte is head of risk management of the Group and chairman of the board’s Risk Committee. The board will accept the resignation of Manuel Soto as a member of the board of directors, with thanks for his contribution to the board’s work since joining in 1999, and will name in his place Juan Miguel Villar Mir as an independent director. Also, Guillermo de la Dehesa Romero, an independent director, will replace Manuel Soto as chairman of the Audit and Compliance Committee and has been named third vice chairman of the board, which has named Isabel Tocino Biscarolasaga to the Executive Committee.