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Santander shares down after chairman dies

Sep. 10, 2014 6:20 AM ETBanco Santander, S.A. (SAN) StockBSAC, SAN, BSBR, BCDRFBy: Eli Hoffmann, SA News Editor5 Comments
  • Shares of Banco Santander (SAN, BSBR, BSAC, OTCPK:BCDRF) -1.2% premarket following news that 79-year-old chairman Emilio Botin died of a heart attack on Tuesday night. (press release)
  • Under his tenure, Santander grew through aggressive acquistions, and through the introduction of novel banking services. Today, SAN is the largest bank in the eurozone by value.
  • But analysts still question the lender's capital position, with much of its strength in its many subsidiaries.
  • His death raises the question of succession. Botin's share in the bank isn't large enough to guarantee his daughter Ana's control. (BBC)

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