Institute of International Finance Elects Ana Botín Chair of the Board

October 13, 2022

Santander’s Executive Chair will be first woman to helm influential industry group in its 40-year history

Today, the Institute of International Finance (IIF), the global association of the financial industry, announced that Ana Botín, Group Executive Chair of Grupo Santander, S.A. will become the next Chair of the IIF, the first woman to chair the Board in IIF’s history. She was elected unanimously by the IIF Board of Directors on Oct. 13 during its annual meeting in Washington, D.C.

Ms. Botín, a member of the IIF's Board since 2014, will succeed Axel Weber, Board Member of UBS Group AG, who concludes his term as Chair at the end of the year. Ms. Botín’s term will begin in January 2023, coinciding with the IIF’s milestone 40-year anniversary.

"I am honored to become Chair of the IIF," Botín said. "There has never been a more important time for a vibrant and innovative financial services industry. The IIF is a champion of finance and its capacity to support growth in the global economy, and I look forward to that continuing during my term as Chair. I would like to thank Axel Weber for his strong leadership of the IIF, particularly as the COVID-19 crisis has accelerated the pace of change for the financial industry around the world.”

"Serving as Chair of the IIF has been a great honor," said Axel Weber. "The IIF continues to be a leading voice for the financial services industry, and I am particularly proud of the work the team did with the launch and build out of the Climate finance and Sustainability workstream as well as the continued great work on Emerging Markets and Sovereign debt. In this changing time, its mission to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for policies that foster global financial stability and sustainable economic growth is more important than ever. I have no doubt that Ana will elevate this mission as a champion for the industry.”

"Having worked with Ana for many years on the Board, I am thrilled to welcome her as the IIF’s new Chair,” said Tim Adams, President and CEO of the IIF. "Under her leadership, Santander has become one of the world’s leading financial institutions, with a global reach, noted leadership in financial inclusion, deploying cutting-edge digital technology and support for financing a pragmatic transition to a decarbonized economy.” On outgoing Chair Axel Weber, Adams said: “Axel’s steady and insightful leadership these past five years has been a source of great strength for the organization – and the global industry. His extensive and noteworthy career – academia, as leading economic policymaker and top financial executive – has given him a unique perspective and made him a valuable source of advice and guidance for me and the team. We thank him for his time and wise counsel.”

Ana Botín was appointed Executive Chairman of Banco Santander in September 2014. Ms. Botín began her career in New York, where she spent eight years with JPMorgan in corporate and investment banking. She left as an executive in 1988, joining Santander to lead the Group’s expansion in Latin America. In 2002, she became Chief Executive of Banesto in Spain, before becoming CEO of Santander UK in 2010. Ms. Botín is the President of the European Banking Federation, is a Board member of the Coca-Cola Company and a member of the MIT CEO Advisory Board. She is also the founder and Chair of both Fundación CyD, which supports Spanish universities’ contribution to economic and social development, and Empieza por Educar, the Spanish affiliate of Teach for All, that trains talented graduates to become teachers. Ms. Botín earned her BA in Economics from Bryn Mawr College.

A full list of the IIF Board of Directors can be found here:


About the Institute of International Finance (IIF)

The Institute of International Finance (IIF) is the global association of the financial industry, with about 400 members from more than 60 countries. The IIF provides its members with innovative research, unparalleled global advocacy, and access to leading industry events that leverage its influential network. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, professional services firms, exchanges, sovereign wealth funds, hedge funds, central banks and development banks.  To learn more about IIF, please visit, follow us on TwitterLinkedIn or YouTube, or check out IIF’s podcasts.