The Time For Arredondo Clan in Altamira Is Up

4/04/2014 – El Confidencial

In only three months one of the most prestigious real estate name left Banco SantanderJavier Arredondo quit from Altamira Real Estate, where he held office of the director of the real-estate-owned department. In fact he has been discharged by the fund that bought 85% of the management platform for €664 million , Apollo.

Javier Arrendondo was the sure bet as he is the son of Luis Arredondo, the real estate right hand of CEO, Alfredo Sáenz, running together with him Urbis (Banesto) and Santander Global Properties.

After retirement of Sáenz, the name Arredondo expressed power in the real estate branch as Javier got promotion to the CEO office. However, establishment of the merger between Altamira Real Estate and Mesena (Banesto) constituted the beginning of the end. (…). Javier Arredondo, has been previously accused of nepotism and favouring acquaitances practiced inside the headquarters in Santander Financial City in Boadilla del Monte and in related third-party companies.

To fill his position Apollo hired  Pol Clota, the marketing director of Catalunya Caixa Inmobiliaria, currently on sale. (…).

Nowadays the staff of Santander is absorbed by the sales of the Canalejas complex and the Edificio España building in Madrid.

 

 

Original article: El Confidencial (by Carlos Hernanz & Elena Sanz)

Translation: AURA REE

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