Emilio Botín
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Publicado: 21 de octubre de 2011
Emilio botín:
He is the Executive Chairman of Spain's Grupo Santander.
In 1986 Emilio Botín, then aged 52, took over from his father as president of the Banco de Santander
Botín was no newcomer tothe banking world. His father, grandfather and great-grandfather were all bankers.
in 1999 it merged with Banco Central Hispano, the largest and third biggest banks in the country, say they willmerge to form one of Europe's largest banks creating Banco Santander Central Hispano,(BSCH).
he was co-president with Central Hispano's José María Amusategui. The retirement of Amusategui wasaccorded to be in march 2002 but Botin wanted it to be early and asked him to leave in order to be the only president of the company but he denied.
From 1999 to 2002:
The 1999 merger between Santander andBanco Central Hispano (BCH) was designed to be a “merger of equals” in which the top executives of the two pre-existing firms would share control of the merged entity.
Soon after the merger formerBCH executives accused Botin of trying to push his own agenda and threatened to take legal action against him.
This post-merger squabbling was resolved when BCH executives Jose Amusategui and AngelCorcostegui agreed to accept severance payments, retire and renounce to control to Botin, at an expense to shareholders of €164M.
The large termination payouts generated negative press and Botin waseventually brought to trial on criminal charges of “misappropriation of funds” and “irresponsible management.” However, in April, 2005 he was cleared of all charges. The verdict said the €164Mretirement payments made to the two former executives were legal, “made as compensation for the services provided to the bank
Botin’s legal troubles continued. Most recently Botin’s name has been in the newsbecause of allegations that in 1999, at the time of the BCH merger, he bribed Spain’s economy minister, Rodrigo Rato, in order to seek favor with government officials.
In 2004, BSCH acquired the...
He is the Executive Chairman of Spain's Grupo Santander.
In 1986 Emilio Botín, then aged 52, took over from his father as president of the Banco de Santander
Botín was no newcomer tothe banking world. His father, grandfather and great-grandfather were all bankers.
in 1999 it merged with Banco Central Hispano, the largest and third biggest banks in the country, say they willmerge to form one of Europe's largest banks creating Banco Santander Central Hispano,(BSCH).
he was co-president with Central Hispano's José María Amusategui. The retirement of Amusategui wasaccorded to be in march 2002 but Botin wanted it to be early and asked him to leave in order to be the only president of the company but he denied.
From 1999 to 2002:
The 1999 merger between Santander andBanco Central Hispano (BCH) was designed to be a “merger of equals” in which the top executives of the two pre-existing firms would share control of the merged entity.
Soon after the merger formerBCH executives accused Botin of trying to push his own agenda and threatened to take legal action against him.
This post-merger squabbling was resolved when BCH executives Jose Amusategui and AngelCorcostegui agreed to accept severance payments, retire and renounce to control to Botin, at an expense to shareholders of €164M.
The large termination payouts generated negative press and Botin waseventually brought to trial on criminal charges of “misappropriation of funds” and “irresponsible management.” However, in April, 2005 he was cleared of all charges. The verdict said the €164Mretirement payments made to the two former executives were legal, “made as compensation for the services provided to the bank
Botin’s legal troubles continued. Most recently Botin’s name has been in the newsbecause of allegations that in 1999, at the time of the BCH merger, he bribed Spain’s economy minister, Rodrigo Rato, in order to seek favor with government officials.
In 2004, BSCH acquired the...
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