Santander banking boss in crisis

THE boss of Spanish bank Santander may have to resign following fraud charges.

Reports suggest the CEO, Alfredo Sáenz, will be banned from working as a banker altogether after rumours the Supreme Court will ignore any appeal made against a conviction for false claims in 2009.

Sáenz was found guilty of wrongly claiming a business owed money to the bank.

Questions have now been raised as to who will take over the leadership, with some suggesting chairman Emilio Botin’s daughter, Ana Patricia, could be tipped for the job.

But sources have said the planned 25bn euro float for the UK side of the business is now at risk if Sáenz leaves.