The 45-year-old becomes the sixth coach to lose his job in the Spanish top flight this season following the departures of Abel Resino (Atletico Madrid), Juan Carlos Mandia (Racing Santander), Marcelino Garcia Toral (Real Zaragoza), and Hugo Sanchez and Jose Angel Ziganda (both Xerez).
"The bank's capacity to generate profit enables us to set aside hefty real estate provisions in Spain in 2012 and significantly increase non-performing loan coverage, " Santander chairman Emilio Botin said.