McDonough for Santander board

Banco Santander Central Hispano SA has named William J. McDonough, former president of the Federal Reserve Bank of New York, as a member of its non-executive board.

The eurozone's largest lender by market value has built a global banking network over the last decade by expanding aggressively by acquiring smaller banks in Latin America, the UK and recently also in the US.

McDonough is also vice-chairman of US investment bank Merrill Lynch and a special advisor to its chairman, Stan O'Neal. He