Santander's Mexican unit announces that chairman of board to leave post

FILE PHOTO: The logo of Santander bank is seen at a branch in Mexico City, Mexico April 12, 2019.REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - The chairman of the board of the Mexican unit of Spanish bank Santander, Marcos Martinez Gavica, will leave his position, the bank said in a statement on Thursday.

Martinez Gavica has been with Santander for over two decades, the statement added, noting that the executive will stay in his current post through April of next year.

Santander last month offered to take full control of its Mexican business through a 2.6 billion euro ($2.9 billion) all-share deal as it chases potentially higher returns in Latin America.

The deal, which was broadly welcomed by analysts, would unwind Santander’s listing of 25 percent of the bank on the Mexican stock exchange in 2012.

Reporting by Stefanie Eschenbacher; Editing by Anthony Esposito and Sandra Maler