The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Botín’s family favourites rise on their merits


Banco Santander has grown from a regional player into the largest retail bank in Spain and a formidable force among European banks but some things never change. Emilio Botín's highly personalized style of management is one of them. The sudden resignation last month of his respected CEO, Angel Corcóstegui, has given Botín a free rein as Santander Central Hispano's executive chairman to tighten the dynastic grip over the banking group. In a move that surely lines her up for the future top spot, Botín has brought his daughter, Ana Patricia, back into the frame, appointing her chairman of Banesto (Banco Español de Crédito), the medium-size retail bank bought by Santander in 1994. Emilio's brother Jaime, chairman of Bankinter, a rival bank, was also named first vice-chairman of SCH and Ana Patricia's brother "little Emilio" already has a seat on the board.

This certainly looks like nepotism. Ana Patricia, an investment banker by training, has always been expected to take over the Botín family business eventually.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree