Santander chief Saenz resigns after legal battle

  • Santander's chief executive Alfredo Saenz resigned on Monday following a lengthy legal battle over whether he should remain in the position.

    The Spanish bank has appointed Javier Marin, 46, the head of its insurance arm, to succeed him.

    According to Santander, 70-year-old Saenz decided to leave voluntarily.

    Saenz, who had been at the bank since 1994, was involved in a legal row over whether having a criminal conviction would bar him from his role.

    Saenz is widely credited for turning Santander from a regional Spanish bank into a global industry leader.

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