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Santander Investment Names Anthony M. Pesco President and CEO of Santander Financial Products

NEW YORK, Nov. 25 /PRNewswire/ -- Grupo Santander today announced that Anthony M. Pesco has been named President and Chief Executive Officer of Santander Financial Products, which is based in Dublin, Ireland, and is a subsidiary of Santander Investment.

Mr. Pesco had been a managing director of Santander Financial Products for one year before this appointment where he was responsible for risk management and business strategy related to the OTC derivatives business. Immediately prior to joining Santander Financial Products, Mr. Pesco was a Vice President and Head of Product Development and Risk Management at AIG Financial Products Corporation (AIGFP). Before that he was a Vice President in the interest rate and equity derivatives group at JP Morgan. Mr. Pesco received his undergraduate degree and a Ph.D. in chemical engineering from Columbia University.

Jose Antonio Diaz, Head of Santander Investment Securities Inc., Santander Investment's Section 20 subsidiary, said, "Tony's commitment to tailored financial solutions based on the individual needs of the company is the type of attitude that will make Santander Financial Products flourish. Grupo Santander is delighted to have Tony spearhead this effort going forward."

Mr. Pesco said, "This is a wonderful opportunity for me. Santander Financial Products' efforts will be targeted at providing a full-service approach to solving customer problems rather than developing exotic new products in isolation, thereby building long-term client relationships."

Santander Investment, the parent company of Santander Investment Securities Inc. and Santander Financial Products, is an international investment banking firm based in Spain with offices and/or subsidiaries throughout Europe, North America, Latin America and Asia. The firm provides a wide range of services including privatizations, mergers and acquisitions, corporate finance, corporate lending, treasury and capital markets, private banking, venture capital, asset management and brokerage services.

Santander Investment is a wholly owned subsidiary of Grupo Santander. Grupo Santander conducts retail banking, corporate banking, treasury and capital markets, investment banking, and insurance activities in Spain and 31 other countries, including all the leading financial centers. With assets of $147.8 billion at the end of September 1996, Santander is the largest Spanish banking group.

SOURCE Grupo Santander
 -0- 11/25/96

/CONTACT: Jaime de Pinies, 212-407-7857, or Michael D. Mandelbaum, 212-407-4538, both of Santander/

CO: Santander Investment; Grupo Santander; Santander Investment

Securities Inc. ST: New York IN: FIN SU: PER

LI-HD -- NYM047 -- 3550 11/25/96 09:23 EST
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Publication:PR Newswire
Date:Nov 25, 1996
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