Professional life

Professional life In 1958 he joined the Banco Santander to play several positions and was appointed CEO in 1964, and later, in 1986, president, succeeding his father Emilio Botin Lopez who was 52 years as a banker (1934-1986) . From that moment began a highly personal management style, daring and revolutionary in Spanish banking, leading to Banco Santander became the first bank in Spain. For example, in 1989 the Santander broke the pacts between Spanish banks on interest applicable to savings accounts that restrict competition in 1989 to provide a highly profitable product. In addition, the Banco de Santander pursued a policy of expansion, both within and outside Spain, it agreed with the directors of other entities.Established alliances with the Bank of Portugal Champalimaud, Soci t G n rale of France, The Royal Bank of Scotland in the UK (although as a result of the acquisition of Abbey National ended up selling its share in 2005 forced by the British competition authority), Commerzbank Germany, San Paolo of Italy and the BCM in Morocco. He has also invested extensively in America, buying banks in Argentina, Chile, Colombia, Brazil, Peru, Venezuela and Mexico. He also became the largest shareholder of First American Fidelity, but sold his stake after the merger with First Union. In 1994, Banco Santander acquired Banesto, who was then a Spanish bank’s fourth public auction. Some confusing assignment of operations to Banesto Santander without practicing proper tax withholdings, led the Anti-Corruption Prosecutor to investigate the bank and tax offenses attributed to Botin.As of 1998 contacts were initiated between the Bank and Banco Santander Central Hispano to merge, culminating in 1999 with the creation of one of the largest banks in Spain and Europe, Banco Santander Central Hispano, which was later renamed Bank Santander. On 11 July 2008, Banco Santander was chosen as the best bank in the world by Euromoney magazine, due to the administration and leadership position in Latin America. Emilio Botin thanked the award through a video conference.