Word: banesto
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...ongoing parlor game in Madrid now is betting who's going to succeed Emilio Botín whenever he decides to step down. Santander was founded in 1857; a Botín has run it since 1920. Current chief executive Alfredo Saenz came to the bank when it bought Banesto in 1994, bringing the Parthenon operating platform with him. He's very smart and at most other banks he'd be a shoo-in. But Botín is a dynastic kind of guy, and his daughter Ana Patricia, 49, currently heads Banesto, which is still run as a separate...
While Spain's new government is trying to end its patriarchal traditions by allowing women to head the monarchy, the private sector is ahead of the curve. Ana Patricia Botín, 43, a financial veteran, is executive chairwoman of Banco Español de Credito (Banesto), and when her father Emilio retires as chairman, she may take over the parent firm, family-controlled Grupo Santander, which is Spain's biggest banking empire. Botín, who speaks five languages, has learned how to face those who charge nepotism. "I started at the bottom," she says. "Nobody has given me anything." Indeed, Bot?...
...Morgan vice president at 25 and led a major Spanish bank into Latin America 10 years later. Now chairwoman of Banesto, Spain's third largest commercial bank, Botin, 42, will soon run a public company. By the end of the year, Banesto's parent, Santander Central Hispano (SCH), plans to sell shares representing 10% of Banesto to raise about $600 million. Botin's next step? Probably to the helm of SCH, Spain's largest bank. Her father Emilio Botin is the current chairman...
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