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Court Bans Santander CEO From Banking

Source: El Mundo - Mon 17th Jan 2011

Spain's Supreme Court has ruled to ban Alfredo Saenz, the CEO of Banco Santander, from working in the banking industry, a year after he was found guilty in a case originating from his time as chairman of Banco Espanol de Credito SA in 1994.

The Supreme Court found to be Saenz guilty of fraud, a charge of which he had previously been cleared of, Spain's El Mundo reported. The ruling implies that his current employment at Santander will be terminated with immediate effect, the newspaper added.

Santander had declined to comment on the matter at the time the newspaper went to press.

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