MADRID (Reuters) - Santander
Rato, who has also served as head of the International Monetary Fund and as Spain's economy minister, will advise the bank's board on designing, developing and implementing its overall business strategy, a spokeswoman for the bank said.
Earlier this year Rato, who was ousted from Bankia when it was nationalized in 2012, was appointed by Telefonica
With 32 other Bankia board members he is the subject of an investigation into allegations of fraud, price-fixing, and falsifying accounts in connection with the listing of the lender in 2011.
(Reporting by Jesus Aguado; Writing by Julien Toyer; Editing by Greg Mahlich)
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