Santander is evaluating the possibility of replacing its future accounting director, while a lawsuit related to the previous position of the executive continues to be processed in Brazilian courts, according to sources familiar with the matter.
Santander had previously announced that he would appoint Alexsandro Broedel Lopes, former financial director of Itaú, as head of accounting until July.
Spain’s largest bank has now opened a new internal process to seek a new person responsible for this function, as reported by the sources, who preferred not to identify themselves when discussing hiring decisions.
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Broedel, who joined Santander as senior vice president in December, was accused of fraud by Itaú last year.
The Brazilian bank stated that its former CFO did not say that it operated a company with a partner and carried out external activities as a consultant. Broedel has denied any irregularity and said he will contest the accusations in court.
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A Santander representative declined to comment. Broedel did not immediately respond to a comment.
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