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Santander CFO takes the chief executive role

SANTANDER CFO José Antonio Álvarez has been promoted to the bank’s top role, as part of a series of board changes.

Álvarez will serve as CEO, replacing Javier Marín. Álvarez has served as CFO since 2004, having joined the bank in 2002.

Further promotions have been made to fill the gap left by Álvarez. The CFO role will be held by José García Cantera, currently global head of the Santander global banking and markets division, while Cantera will be replaced by Jacques Ripoll, currently head of global wholesale banking in Santander UK.

New non-executives have also been named. Bruce Carnegie-Brown is appointed first vice-chairman and lead independent director of the board; Sol Daurella and Carlos Fernández are appointed independent board directors. Rodrigo Echenique, a current non-executive board member, is named vice-chairman.

The appointments will take effect from 1 January. Santander’s UK CFO is Nathan Bostock.

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