Why Banco Santander (SAN) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Banco Santander (SAN) are down 0.50% to $9.90 in pre-market trade after it was reported that Emilio Botin, chairman of the Spanish banking giant, died of a heart attack, the Telegraph reports.

Botin, who was one of Spain's most powerful men and oversaw the transformation of Santander from a small regional lender into the eurozone's biggest retail bank, the Telegraph said. He was 79 years old.

The bank is due to hold a meeting of its appointments and remuneration committee on Wednesday to nominate his successor.

  

SAN Chart SAN data by YCharts

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