Changes at the top tend to be a great indicator of plans for an IPO. So, when Santander announced new top dogs this week, including a new CFO, it was hard not to notice. According to Reuters, ‘the euro zone’s biggest bank’ is taking steps toward an IPO.

First, let’s take a look at the new hires. The UK business just named a new CFO, Stephen Jones. Steve Pateman has been promoted to run the UK banking operation, which includes ‘retail banking and marketing,’ Reuters reports.

Also, there were plans for the Spanish bank to spin off the UK division, but they were ‘delayed due to new UK regulations forcing retail banking to be ring-fenced,’ not to mention the impact of the debt crisis in the euro zone.

Finally, the company is bolstering its UK board of directors, also a sign of IPO ambitions.

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Source: Reuters

Photo: TJ Morris via Flickr