Banco Santander has chosen investment banker Luis Isasi as non-executive president of his business in Spain, his second largest market after Brazil.

The appointments committee of the entity has proposed its signing to the board of directors. This will be effective after obtaining the approval of the European Central Bank (ECB) and will be submitted to the next meeting of shareholders of the group.

His appointment is part of the renovation of the management team of the bank that Ana Botín is carrying out . Rodrigo Echenique will cease to be president of Spain, but will keep his seat on the board, and Guillermo de la Dehesa leaves the bank after 17 years as a director.

Isasi is characterized by a profile linked to investment banking after passing through JP Morgan and Morgan Stanley, where he currently holds the position of responsible in Spain. He has a degree in business and MBA from the Columbia Business School in New York.

"It is not easy to replace Rodrigo and Guillermo, although I am sure that the experience, knowledge of the Spanish market and international vision of Luis Isasi will bring much value to both the group and Santander Spain," said the president in a statement sent tonight by the entity

Following this appointment, the Santander council will continue to consist of 15 members.

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