© Reuters. FILE PHOTO: Banco Santander’s chairwoman Ana Patricia Botin reacts during the annual results presentation at the bank’s headquarters in Boadilla del Monte, outside Madrid, Spain January 29, 2020. REUTERS/Susana Vera/File Photo
MADRID (Reuters) – Ana Botin, executive chairman of Spain’s Santander (BME:), will become the world’s most prominent bank lobbyist, the first woman to take the role as head of trade body IIF, the institute said on Thursday.
Botin, a member of the Institute of International Finance’s (IIF) board since 2014, will succeed Axel Weber, a board member at UBS, who concludes his term as chair at the end of the year, the financial body said.
Botin’s term will begin in January 2023, coinciding with the institute’s 40-year anniversary.
“There has never been a more important time for a vibrant and innovative financial services industry,” Botin said in an IIF statement.
Among many challenges, the financial industry is trying to walk a fine line between fostering global financial stability, supporting economic growth and prudent risk management.
With some countries in Europe potentially entering a recession triggered soaring energy prices, lenders might also have to cope in future with higher provisions due to a rise in insolvencies among the worst affected companies.
The IIF has been a leading voice for the financial services industry, and during Weber’s term launched a climate finance and sustainability workstream and continued to work on emerging markets and sovereign debt.
During the European sovereign debt crisis, the IIF helped coordinate talks in 2011 between lenders and the Greek government. Banks in Greece were the biggest private holders of the country’s public debt.
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