Santander chooses new name for former executive vacancy accused of fraud by Itaú

Santander chose Manuel Preto to replace José Doncel as his vice-president of accounting, said the Spanish bank on Wednesday (4) in a memorandum seen by Reuters.

“This appointment has an effect from July 31, after the presentation of the results of the second quarter, and is subject to the corresponding regulatory and internal governance approvals,” said the memorandum.

The decision occurs after a source reported on Wednesday that Alexsandro Broedel Lopes, former executive of Itaú Unibanco, as vice president of accounting.