Spain's Santander , the euro zone's largest bank, said on Monday its Chief Executive Alfredo Saenz, 70, had stepped down after a prolonged legal battle over whether he should be barred from banking due to a criminal conviction.
The Bank of Spain opened new proceedings earlier this month to decide Saenz's future after the government passed a law that could have helped him retain his post.
Continue Reading Below
Santander said it has named Javier Marin, who has been the bank's managing director, as new CEO.
(Reporting By Tracy Rucinski; Editing by Fiona Ortiz)