By Ed Frankl


Banco Santander SA on Saturday proposed Glenn Hutchins, co-founder of private-equity firm Silver Lake, as a new independent board director.

The Spanish bank said Mr. Hutchins brings a deep understanding of the technology and financial sectors, and will join the appointments, remuneration committee and the innovation and technology committee.

Mr. Hutchins replaces R. Martin Chavez, who stepped down as the group's outside director in July, Santander said.

The appointment is subject to the customary approvals, the bank added.


Write to Ed Frankl at edward.frankl@dowjones.com


(END) Dow Jones Newswires

12-12-22 0159ET