Conde, Mario

b. 1948, Pontevedra (Galicia)

   Financier

   Appointed President of Banesto, then one of Spain's seven major clearing banks, in December 1987, Conde became an outspoken critic of the socialist government of Felipe González, accusing ministers of a "preoccupation" with European policy, especially entry into the exchange rate mechanism in 1989 and acceptance of the Maastricht Treaty in 1992. In the early 1990s a series of mergers within the banking world left Conde with considerably reduced influence, and when Banesto over-extended its loan book just as recession hit Spain, the state-run Deposit Guaran-tee Fund was obliged to intervene in December 1993. Conde was dismissed, arrested and subsequently prosecuted for fraud. In the aftermath of the scandal Banesto was bought out by the Banco de Santander.

   See also: corruption; politics

   PAUL HEYWOOD