A high-profile row between Spain's Santander and Andrea Orcel will go to a court showdown in March after they failed to reach a deal over the withdrawal of an offer to make the Italian banker chief executive. Orcel, among Europe's top investment bankers, is claiming breach of contract by the euro zone's third-largest bank by market value, and suing for 112 million euros ($126 million

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In September 2018, Santander, one of Europe's biggest banks, tweeted a video of its incoming new chief executive, an Italian investment banker named Andrea Orcel. 2019-01-22 Andrea Orcel was to have taken the CEO seat at Madrid-based Santander sometime this quarter. The veteran European rainmaker was hired for the job nearly four months ago, by the Botin family which has run Santander for more than 100 years, as finews.com reported. 2019-01-15 Orcel, who was head of UBS Group’s investment banking business at the time, resigned from the Swiss bank when he was offered the Santander job. Neither Orcel nor Botin were in court for Monday’s hearing, which wrapped up after focusing on issues such as procedural evidence … Santander names UBS’s Orcel as new chief executive.

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Home; Breaking News; Business; Covid-19; Health; Lifestyle; Sport; Technology; World; Home Business The trial between Banco Santander and Andrea Orcel Santander names UBS’s Orcel as new chief executive. Top ranks of European banking shaken by surprise move. Andrea Orcel will be charged with accelerating digital change and working out how to Orcel, who was head of UBS Group's investment banking business at the time, resigned from the Swiss bank when he was offered the Santander job. Neither Orcel nor Botin were in court for Monday's Today News || (Bloomberg) -- Andrea Orcel’s legal feud with Ana Botin shifts this week to a Madrid courtroom where he’ll seek redress from Banco Santander 2019-07-26 · Santander offered Andrea Orcel the top job but then changed its mind, prompting a €100m lawsuit for damages from the banker. Photograph: Sergio Moraes/Reuters On Sept.

But a Financial News investigation has found the Spanish bank’s unprecedented decision to cut ties with CEO-in-waiting Andrea Orcel before he had even begun was the result of a stunning error of judgement from executive chair Ana Botin. Banco Santander SA reversed course on installing Andrea Orcel as its next chief executive officer after a standoff over tens of millions of dollars in deferred pay.

2018-09-26 · Santander poaches new CEO from UBS — former head of investment banking Andrea Orcel Published: Sept. 26, 2018 at 2:08 a.m. ET

Neither Orcel nor Botin were in court for Monday's Santander names UBS’s Orcel as new chief executive. Top ranks of European banking shaken by surprise move. Andrea Orcel will be charged with accelerating digital change and working out how to Today News || (Bloomberg) -- Andrea Orcel’s legal feud with Ana Botin shifts this week to a Madrid courtroom where he’ll seek redress from Banco Santander On Sept.

Andrea Orcel turned down an offer from Santander to join its board after the Spanish banking group earlier withdrew a decision to make him its next chief executive, according to a person familiar with the matter. The offer, tabled a few weeks ago, did not appeal to Orcel who is still considering his legal options, the person said. The board

Now, Santander is essentially asking shareholders not to be bothered by the sudden about-face. Santander promised to pay “up to” 35 million euros of a 55 million euro package that Orcel was due to receive in future years from his employer at the time, UBS. The letter said Orcel would make his “best efforts” to cap that cost by getting the Swiss bank to contribute some of it. Santander bought out his contract, paying Orcel this remuneration as a part of his sign-on bonus on October 19, 2018. [51] In January 2019 he and Botín were unable to convince European regulators , UBS's Ermotti and Axel Weber , and Santander's board of directors that Orcel was joining the company from a non-competing bank. [3] 2021-03-09 · A court hearing in a dispute between Italian banker Andrea Orcel and Santander has been postponed after the judge handling the case had to quarantine over contact with a person with COVID-19. A high-profile row between Spain's Santander and Andrea Orcel will go to a court showdown in March after they failed to reach a deal over the withdrawal of an offer to make the Italian banker chief executive.

As the dispute escalated, Santander went on to accuse MADRID, March 9 (Reuters) - A court hearing in a dispute between Italian banker Andrea Orcel and Santander has been postponed after the judge handling the case had to quarantine over contact with a Meanwhile, Orcel’s €112m lawsuit against Santander over the lender’s decision to withdraw his job offer has still not concluded. A public hearing into the dispute has been delayed several Santander has fired back at Andrea Orcel, accusing him of “dubious ethical and moral behaviour” and detailing a “gradual loss of confidence” in the Italian dealmaker during the bank’s aborted In September 2018, Santander, one of Europe's biggest banks, tweeted a video of its incoming new chief executive, an Italian investment banker named Andrea Orcel. Depicting a meeting with the Banco Santander said it was all about the money. But a Financial News investigation has found the Spanish bank’s unprecedented decision to cut ties with CEO-in-waiting Andrea Orcel before he had even begun was the result of a stunning error of judgement from executive chair Ana Botin. One year ago, Andrea Orcel was fired as the CEO of Santander before he even had a chance to take the job. finews.com on the Italian dealmaker's attempt to get the Spanish bank to make things right. Early last January, Andrea Orcel flew from London to Madrid, ostensibly to lunch with Santander Chairman Ana Botin.
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La entidad y el banquero italiano no han conseguido llegar a un acuerdo para evitar el juicio por el que se 2019-01-16 · Santander's choice of new boss deemed too dear This article is more than 1 year old Compensation for past remuneration of ex-UBS banker Andrea Orcel branded ‘unacceptable’ Vor einem Jahr wurde Andrea Orcel als Santander-CEO entlassen, noch bevor er den Job antreten konnte. Seitdem versucht er Geld und Ansehen zurückzugewinnen. Dafür fehlt ihm ein neuer Job. Anfang Januar 2019 flog Andrea Orcel von London nach Madrid, um mit der Präsidentin von Santander, Ana Botin, zu Mittag zu essen.

Andrea Orcel’s eventual non-appointment as chief executive of Santander will, in time, rank high on the list of dysfunctional succession plans in an industry known for some spectacular failures..
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One of Álvarez’s big achievements has been to transition Santander from the Parthenon IT system that was the bedrock of much of the bank’s success to a new, more modern one.. A former CFO, Álvarez is part of the fabric at Santander, trusted by two generations of Botíns, but perhaps Andrea Orcel and Ana Botín. Andrea Orcel’s eventual non-appointment as chief executive of Santander will, in time, rank high on the list of dysfunctional succession plans in an industry known for some spectacular failures.. Jaws hit the floor in September when Orcel, the epitome of the investment banker, was named as the putative CEO of commercial- and retail-banking focused Santander.

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Mar 5, 2021 The case stems from Santander's decision two years ago to suddenly drop plans to make Orcel its CEO after a disagreement over his pay

A high-profile row between Spain's Santander and Andrea Orcel will go to a court showdown in March after they failed to reach a deal over the withdrawal of an offer to make the Italian banker chief executive.

In a 2018 interview with Bloomberg TV, Botin praised Orcel’s proven track record and ability at “managing across cultures,” attributes that equipped him to be part of the bank’s “best possible team.” Not only that, Orcel offered to cut the bill to Santander of paying part of the compensation owed to him by UBS from slightly over €52.0m to roughly €35.0m. La guerra entre Andrea Orcel y Banco Santander tendrá que resolverse en los juzgados.