Banco Santander SA said Friday that its Chief Executive Officer Jose Antonio Alvarez would be leaving his role as of Jan. 1, ending a seven-year tenure.
The Spanish lender SAN, -2.04% SAN, -2.14% said the board has decided to appoint Hector Blas Grisi Checa as his successor.
Mr. Alvarez will continue on the board of directors as a nonexecutive vice chair, Santander said.
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