Santander chairman Botin dies

Spanish banking magnate Emilio Botin, who built the country’s Banco Santander into a global financial giant, has died of a heart attack aged 79.

Mr Botin was known for his hands-on leadership of the bank and turned the small institution run by his father into the eurozone’s largest by market capitalisation through a series of acquisitions.

He also transformed it into a major banking player in Latin America. Mr Botin rubbed shoulders frequently with Spanish and Latin American political leaders.

Bank parent company Grupo Santander said in a statement that the board will meet later to name Mr Botin’s successor as chairman.

A bank spokeswoman said he died last night after a heart attack at his home.