Banco Santander must pay banking heavyweight Andrea Orcel more than $75 million for reneging on a promise to name him chief executive
A Spanish judge ruled that Banco Santander SA must pay Andrea Orcel more than $75 million for reneging on a promise to name him chief executive, in the latest twist in a fight between two of Europe’s most powerful bankers.
as Santander’s CEO. She said the bank couldn’t justify his €50 million-plus price tag, equivalent to $57 million at the time, which included compensation for shares he would leave behind at his then employer, UBS Group AG.
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