Banco Santander (SAN) SA, Spain's biggest bank, named Javier Marin as chief executive officer to replace Alfredo Saenz, who resigned.

Marin, 46, is senior executive vice-president of the bank and head of the global insurance, asset management and private banking division, the Santander, Spain-based bank said in a filing to regulators today.

Saenz, 70, joined the bank in 1994 and became CEO and vice chairman in 2002. Under his tenure, Santander almost quadrupled, growing in assets to 1.25 trillion euros ($1.64 trillion), the bank said in a statement. Saenz will also leave the board, said Santander.

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