Spain's Santander, eurozone's biggest bank, names new CEO just weeks after death of chairman

Associated Press

Spain's Banco Santander, the eurozone's largest bank, has named Jose Antonio Alvarez as its new chief executive officer.

The move comes just over a month after Ana Botin took over as chair of the bank after the death of her father, former chairman Emilio Botin.

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The bank said in a statement Tuesday that Alvarez would replace Javier Marin, who held the post for two years.

Alvarez served 10 years as the bank's chief financial officer. The statement said his tenure received wide external recognition for best industry practices, especially in the areas of investor relations and transparency.

The appointment takes effect from Jan. 1.

Banco Santander SA is the largest bank by market value in the 18-country eurozone.