Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain's Santander ends contract with Rodrigo Rato

Source: Reuters - Sat 15th Nov 2014
Spain's Santander ends contract with Rodrigo Rato

Spain's Santander is disbanding its 12-strong international advisory board, a spokesman said on Friday, in a move that ends ex-IMF chief Rodrigo Rato's tenure at the bank and is the highest-profile decision yet from new boss Ana Botin.

Rato, who served as head of the International Monetary Fund, as Spain's economy minister and who ran lender Bankia until its state rescue in 2012, was hired by Santander as an adviser in September 2013.

He was recently accused of improper management by magistrates investigating allegations that dozens of former executives at Bankia and its predecessor Caja Madrid used company credit cards for personal expenses.

Rato has denied any wrongdoing. Santander refused to comment on his position at its third-quarter results in early November.

The bank said on Friday that it was losing the international advisory board, which it has had since 1997, as its situation was changing. "The digital revolution, the new trends in global business, greater demands from regulators and clients and the lack of trust among the public in the financial industry bring important challenges and opportunities for the business," Santander said in a statement.

Other members of the board included George Mathewson, the former chairman of Royal Bank of Scotland, and Francisco Pinto, ex-prime minister of Portugal.

Ana Botin, who had been running Santander's British unit, took over as executive chairwoman after her father Emilio Botin died in September.

Until now, she has not signalled any big shake-ups at Santander, saying she wanted to continue her father's strategy and international push at the euro zone's biggest bank.

Recommended Reading :

* Spain's ruling PP expels Rodrigo Rato

* Spain probes ex Bank directors suspected of misusing company credit cards

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs

When shopping for bodyjewelrytips, never buy anything that has nickel. The best type of material is the steel, titanium, wood, anodized gold or gold. Most nickel products will rust and may infect your ear. If you have pierced the naval or eye, you do not need to worry, as that is the most versatile part of the body. You can wear rings, straight, curved or fancy and captive beads. There are many leading body piercing jewelry that offer some of the biggest collection at very affordable price. In regard to shopping, always go to a wholesale shape as that is the sure place of getting any type of body piercing jewelry. The only thing that you need to be careful about is the material used to make the jewelry. There are instances when body piercing might go wrong and the result is an infection. In order to avoid this, make sure that the person doing the piercing is qualified to do so. After piercing is done Bodys piercing trends, you should keep the area sterilized and clean. Use warm water to wipe dirt. Never use spirits as they will corrode the area resulting to a wound which might cause an infection.