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Santander CEO to Testify in Assistant’s Insider Trading Case

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July 5 (Bloomberg) -- Banco Santander SA Chief Executive Officer Alfredo Saenz will testify in an investigation into alleged insider trading and money laundering against a former personal aide.

Saenz will appear at the national court in Madrid on July 13 to give evidence in a probe by judge Eloy Velasco into allegations against Cedric Canas, said an official for the court in a phone interview. Canas is accused of buying shares in Potash Corp. of Saskatchewan Inc. before a takeover bid by BHP Billiton Ltd., the official said.

A Santander official declined to comment in a phone interview. Santander was one of five banks advising BHP on its failed Potash Corp. bid in 2010.

Efforts to contact Canas through the bank to seek a comment weren’t successful.

To contact the reporter on this story: Charles Penty in Madrid at cpenty@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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