CEO steps down from Banco Santander

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LONDON — Alfredo Saenz resigned Monday as chief executive of Banco Santander, a move that ends a period of uncertainty over the bank’s leadership as Saenz faced a possible ban from banking after a criminal conviction.

Saenz’s decision also comes less than a week after Spain’s largest bank reported that first-quarter net profit fell 26 percent.

He will be succeeded by Javier Marin, 47, who has worked for Santander for two decades.

Saenz is departing with a retirement compensation package worth about $115 million. He has also remained one of Spain’s best paid chief executives despite taking a pay cut of 29 percent.

Banco Santander owns Sovereign Bank, one of the largest regional banks in New England.

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