Leaks out of Madrid suggest the Supreme Court will dismiss an appeal by Santander chief executive Alfredo Sáenz against a 2009 conviction for making false claims, writes the Daily Mail.
Reports suggest he will be banned from working as a banker in what is a 14-year legal battle. It would also mean Sáenz will not be able to join the board of Santander UK – which houses the former Abbey, Alliance & Leicester and Bradford & Bingley brands.
If he is banned from working as a banker question marks will be raised over the succession planning at Santander, which is lead by chairman Emilio Botin, 76.
Sáenz was due to become a non-executive of the UK business and provide guidance ahead of a planned £20bn float this year. Sources said his absence would not derail the float.
However, leadership uncertainty at Santander, coupled with jittery markets, may encourage the Botin clan to delay the move, reports the paper.
