With all this the Santander to want to take the lead not only to other financial entities, but also to the new digital competitors outside the banaca that are entering these business niches. The focus of the markets was in any case on the group’s capital policy. Analysts have long been pressing Santander to raise its capital ratio, which last year was able to increase to 11.3%, above 12%. Printable Letter O has defended that in the last four years the bank has already raised its solvency by 18,000 million euros, more than three percentage points, and has reaffirmed its goal of maintaining it between 11% and 12%. The presentation of this new strategic plan has been delayed since it was announced the appointment of Andrea Orcel as CEO of the group, who was called to present it, but whose signing was finally frustrated by its high cost. That also delayed the succession of Rodrigo Echenique, who was planning to retire at the beginning of the year, as CEO of Santander Spain, and then delayed until April. The banker will leave his executive functions on May 1, although he will remain as non-executive president of Santander España and as a board member of the group.
Printable Letter O
This is not the only announced corporate governance novelty. Santander has redesigned its organizational structure, creating three large divisions by geographical areas -Europe, South America and North America-, from which the ten main subsidiaries will depend on the group’s countries, although these will remain independent in terms of capital. Thus, of the European unit, which will direct Gerry Byrne, will hang Spain, Portugal, the United Kingdom, Poland and the financial group Consumer Finance.
Responsible for the area of South America, Sergio Rial, will report Chile, Argentina, Uruguay, the Andean region and Brazil, which runs the Rial itself. Finally, North America will be headed by Hector Grisi and Scott Powell and will encompass the businesses of Mexico and the United States. March is traditionally a good month for the labor market and this has not been an exception, despite the fact that Holy Week is set in the calendar well into April, a factor that could have delayed the Printable Letter O that are made for this period. But it has not been that way. The Social Security has gained 155,104 contributors, the third best data in the statistical series, which allowed to increase the total number of affiliates to 19,043,576, the best figure since August 2008. The unemployment also fell, although it was the lowest fall since March since 2014.