Banco Santander’s CEO Saenz Earned $15.6 Million Pay in 2011

Alfredo Saenz, chief executive officer of Banco Santander SA (SAN), earned 11.6 million euros ($15.6 million) in 2011, down from 12.6 million euros the previous year, Spain’s biggest bank said.

The amount included 3.7 million euros in fixed pay and 7 million euros in bonus payments in cash or shares, the bank said in a report posted on its website.

Chairman Emilio Botin earned 4.51 million euros last year compared with 4.96 million in 2010, the bank said. His daughter Ana Patricia Botin, head of the U.K. division, earned 5.01 million euros, down from 5.59 million euros in 2010.

To contact the editor responsible for this story: Charles Penty at cpenty@bloomberg.net