Madrid. Jaime Botín-Sanz de Sautuola García de los Ríos, former vice president of Santander bank and president and founder of Bankinter bank, passed away this Thursday in his native Cantabria, Spain, at the age of 88.
Jaime Botín was a member of a family with a banking tradition. In 1957 he joined Banco Santander, founded by his father Emilio Botín Sanz de Sautuola López, who was president of the institution.
Jaime Botín was one of the key men in the bank’s expansion and modernisation during the 1970s and 1980s. He served as vice-president between 1999 and 2004 of the largest bank in Spain and second in Europe, behind only the British HSBC.
The banker was the brother of the late Emilio Botín, another key figure at Banco Santander, and father of Ana Botín, the current president of that institution.
He was also the founder of Bankinter, an entity established in June 1965 as an industrial bank, formed 50% by Banco de Santander and Bank of America, which was listed on the Madrid Stock Exchange in 1972, becoming at that time a commercial bank completely independent of its founders.
He held various management positions at the bank for more than three decades, serving as chairman from 1986 to March 2002, and was also the largest shareholder through the family holding company Cartival, which currently holds 23.19 percent of the bank’s share capital.
He was also the creator and promoter of Linea Directa, an insurance company that emerged in 1995 as a joint venture between Bankinter and Royal Bank of Scotland and which, until its IPO in April 2021, was part of the Bankinter Group.
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– 2024-08-21 17:03:55
