It’s been an emotional week for Banco Santander and Santander Consumer USA leaders both in Europe and the U.S. Chairman Emilio Botín unexpectedly passed away on Tuesday, and a day later the bank’s board of directors of unanimously agreed to appoint his oldest daughter, Ana Botín, as its new chair.

Officials from Santander Consumer USA, which provides consumer and commercial financing through Chrysler Capital, expressed their condolences to the entire Botín family.

Santander Consumer USA spokesperson Laurie Kight told SubPrime Auto Finance News in a statement, “Emilio Botín, who sadly passed away (Tuesday) night, was a unique leader whose vision, vitality and commitment turned a local Spanish bank into the global company that the Santander Group is today.

“Leadership seemed to come naturally to him. He took delight in his work and expected those around him to apply the same energy and drive to their own work. His confidence and optimism were contagious,” Kight continued. “We offer our condolences to his family and loved ones.”

Back in Spain, the bank indicated the new chairman appointment was made at the proposal of the appointments and remuneration committee, which held a meeting Wednesday morning.

Fernando de Asúa, first vice chairman of Banco Santander and chairman of the appointments and remuneration committee, expressed “the deep sorrow for the loss of our chairman” and said “Emilio Botín was extremely important for the bank, leading its extraordinary transformation, turning it into the leading bank in the Euro zone and one of the most relevant in the world, and for Spain.”

The appointments and remuneration committee considered Ana Botín “the most appropriate person, given her personal and professional qualities, experience, track record in the group and her unanimous recognition both in Spain and internationally.”

Ana Botín was named chief executive officer of Santander UK in December 2010 after extensive experience in the financial industry and the Santander Group. After eight years working in corporate and investment banking at JP Morgan, she joined the Santander Group in 1988.

After the board’s meeting, Ana Botín said: "In these difficult times for me and my family, I appreciate the trust of the board of directors and I am fully committed to my new responsibilities. I have been working at Santander in different countries and with different responsibilities for many years and I have experienced the professionalism and dedication of our teams.

“We’ll continue to dedicate all our efforts with total determination to keep building a better bank for our customers, employees and shareholders,” she went on to say.