Santander names new Banesto chief after Botin move

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Spanish banking giant Santander said Wednesday it has proposed board member Antonio Basagoiti as the non-executive chairman of its affiliate Banesto.

The move follows the appointment earlier Wednesday of Banesto's executive chairwoman Ana Patricia Botin as the new chief executive of Santander UK.

Banco Santander's executive committee "agreed to propose to Banesto's board of directors the appointment of Antonio Basagoiti as the non-executive chairman of Banesto's board and to its executive committee," Santander said in a statement.

Basagoiti is a former chairman of Spanish utility Union Fenosa.

The decision was taken during a meeting of the executive committee to decide on Botin's appointment.

At Santander UK, she is replacing Antonio Horta-Osorio, who was poached by Britain's state-rescued Lloyds bank to be its new current chief executive.

© 2010 AFP

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