Ana Botín, executive chairman of Banco Santander, has replaced the head of the Spanish bank's Brazilian operation,
the
Financial Times
reported.
Botín appointed Sergio Rial, who has been non-executive chairman of Santander Brazil since March, to replace CEO Jesus Zabalza, the article said.
Ana Botín succeeded her late father as the bank's executive chairman last year. Previously, she had replaced executives running Santander's U.S., Spanish and U.K. operations,.And in August, a new executive was hired to take over the bank's Mexican operation, the
FT
report noted.
Zabalza, who had run the bank's Brazilian business since April 2013, will stay on as vice chairman, the
FT
article said. (Source:
Financial Times
, Sept. 10, 2015.)
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