Santander

Santander Santander Name: Calvin Poovathur Banner ID: 000645555 Course: Business Administration with Marketing idea: Business Proj 1(Contexts/Fra) Grupo Santander and fusion & Leicester (Santander) Introduction Grupo Santander is a banking group revolve around on Banco Santander. It is the largest bank in the Europe and one of the largest banks in the world in terms of market capitalisation. In 1999 Banco Santander and Banco primeval Hispano megered and created Banco Santander Central Hispano (BSCH). The 1999 merger between Santander and Banco Central Hispano (BCH) was designed to be a merger of equals in which the top executives of the devil companies would helping control of the merged entity. Soon after the merger the BCH executives impeach the Banco executive Mr. Botin of trying to push his own agenda and threaten to take legal action against him. This post-merger squabbling was resolved when the two BCH executives concord to accept severance payments, retire and relinquish control to Mr. Botin, at an expense to shareholders of 164m euros. The large termination pay-outs generated negative media for the business and Mr. Botin. He was eventually brought to trial on criminal charges of misappropriation of cash and irresponsible management.

However, in 2005 he was cleared of all charges. The verdict said the 164m euros retirement payments make to the two former executives were legal, do as compensation for the services provided to the bank. In 2005 the anti-corruption division of the Spanish public prosecutors office cleared Mr. Botin of all charges in a separate case in which he was accuse of insider trading. The revenue Santander made in 2009 was 39.38 billion euros and the profit they made was 8.943 billion euros. They have 169,460 employees which makes them second largest bank in Europe. Alliance & Leicester is a UK based bank. It was formed in 1985 when two businesses merged the Alliance Building Society and Leicester Building... If you want to energize a full essay, order it on our website: Orderessay

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