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History
Banco Santander was founded in 1857. In 1999 it merged with Banco Central Hispano, which had in turn been formed through the 1991 merger of Banco Central and Banco Hispanoamericano. The combined bank, known as Banco Santander Central Hispano, or BSCH,[4][not specific enough to verify] was designed to be a "merger of equals", in which the top executives of the two pre-existing firms would share control of the merged entity. Soon after the merger former BCH executives accused Banco Santander chairman Emilio Botín of trying to push his own agenda and threatened to take legal action. This post-merger disagreement was resolved when BCH executives Jose Amusátegui and Angel Corcóstegui agreed to accept severance payments, retire and pass control to Botín, at an expense to shareholders of €164M
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