December 22, 2010 / 9:50 PM / in 7 years

UPDATE 1-Santander announces leadership change in Brazil

(Revises first sentence, changes dateline from RIO DE JANEIRO)

SAO PAULO, Dec 22 (Reuters) - Spanish bank Santander (SAN.MC) announced a change in the leadership of its Brazil operations on Wednesday.

The bank said in a statement that it was proposing Marcial Portela, currently the general director of Santander in Brazil (SANB11.SA), as the new executive president.

The current executive president, Fabio Barbosa, would move to become president of the administrative council of its Brazil subsidiary.

The changes would take effect Feb. 4 if they are approved by shareholders, it said.

Barbosa became the head of Santander in Brazil in 2008 after Santander bought the global operations of Dutch bank ABN AMRO. (Reporting by Aluisio Alves)

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