Banco Santander y modelo de sucesión: fondos, fundaciones y prosapia familiar
La irrupción de la generación más joven de los Botín en el mundo del M&A alimenta la curiosidad sobre el encaje de los intereses accionariales y de la familia en un futuro proceso de relevo
The story of Banco Santander's succession model, involving funds, foundations, and family dynamics, took a surprising turn recently. Two executives, Juan Pepa and Felipe Morenés, who have managed the company discreetly for years, sold 75% of Stoneshield, their alternative assets firm, to the U.S. giant Franklin Templeton. Estimates suggest the firm's valuation could have reached €800 million during a period of intense buying activity among major private capital managers.
After acquiring stakes in companies like Meliá, Solaria, or Exolum, and amassing €9 billion under the Banco Santander umbrella, Pepa and Morenés -the son of Banco Santander's president Ana Botín and her brother-in-law Guillermo Morenés -retired from their positions just months after closing their fourth fund, the Stoneshield Opportunity Fund IV, which provided €1.5 billion for strategic investments and bolstered a project with a significant track record.
At the peak of their careers, aged under 50 and 40 respectively, they stepped aside, but left with a sizable nest egg. It's a shame they didn't capitalize on the exit windows built into the agreement to monetize the remaining 25% and embark on more exciting ventures. Nonetheless, the Madrid financial ecosystem has definitely placed them on the pedestal.
Written by urgent.news from El Pais Economia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
