Banco Santander has appointed Luis Isasi Fernández de Bobadilla as a new director and non-executive chairman of Santander Spain.
Isasi will join the board once all regulatory approvals are obtained since the appointment will be submitted to the next general shareholders' meeting of the bank in 2020.
Santander's latest appointment succeeds Guillermo de la Dehesa, who has been a director on the bank's board since 2002. On the position of non-executive chairman of Santander Spain, Isasi will be replacing Rodrigo Echenique, who announced his plans to step down from the role at the beginning of the year once a successor was appointed. Echenique will continue to be a director of Banco Santander.
Isasi started his career in Seville before moving to JP Morgan in New York, where he covered Latin America. He later moved to First Chicago in London.
In 1987, Isasi started leading the development of Morgan Stanley's first presence in Spain, building a team of professionals that has grown and diversified the business to become a leader in its field over 30 years. He is currently country head and chairman of the Morgan Stanley subsidiaries in Spain, a position that he will leave in the coming months.
During his career, Isasi has worked with a range of leading Spanish companies, participating directly in some of the most important corporate transactions. He has also served as a director of Madrileña de Gas and Madrid Stock Exchange and is today independent director of Grifols.
Following this appointment, the board of Santander will continue to have 15 members, of whom 40% are women. According to the Spanish bank, its board is diverse in terms of gender and nationality (Spain, UK, US and Portugal), and has a broad representation of skills and sectors (financial, industrial, technological and academic).