Fernando de Santibañes
Fernando de Santibañes | |
|---|---|
| Born | March 11, 1945 Berisso, Argentina |
| Occupation(s) | Banker, political figure |
| Known for | Secretary of Intelligence (SIDE) of Argentina (1999–2000) |
Fernando de Santibañes (born March 11, 1945) is an Argentine banker and political figure who held the position of Secretary of Intelligence (SIDE) from December 1999 until October 2000 during the presidency of Fernando de la Rúa. He stepped down after SIDE's involvement in the 2000 Senate Bribery scandal became public, though he was ultimately exonerated of all accusations in 2013.
Biography
De Santibañes was born in Berisso and pursued studies in Economics at both the Universidad del Salvador and the University of Chicago. Beginning in 1984, he joined Banco Financiero, ascending to its leadership in 1993 and remaining until the bank's acquisition by BBVA Banco Francés in 1997 for $184 million. Under his direction, the bank expanded its footprint by acquiring the larger institution Banco de Crédito Argentino.
Tenure at State Intelligence
During his appointment by President de la Rúa, de Santibañes implemented significant workforce reductions at SIDE, cutting approximately 1,200 employees, which diminished the agency’s operational capabilities. His period in office became contentious due to SIDE’s participation in a scandal involving a $5 million bribery scheme aimed at securing Senate approval for legislation easing labor regulations.
De Santibañes openly criticized the ruling coalition, known as the Alliance, highlighting internal conflicts that hindered economic progress. The political fallout included pressure from coalition partner FrePaSo, resulting in Vice President Carlos Álvarez’s resignation and calls for de Santibañes to be removed from his post. He resigned as head of SIDE on October 23, 2000.
Following his departure from government service, de Santibañes dedicated himself to horse breeding at his estate in Pilar. In 2004, he and IKON Public Affairs were sued by U.S. public relations consultant Mattie Lolavar over an alleged breach of contract concerning media consulting services for SIDE; this lawsuit was overturned on appeal in 2005. De Santibañes faced criminal proceedings related to the bribery affair starting in 2007 but was acquitted along with other officials in 2013.