Ana Botin and Andrea Orcel come face to face in Santander court battle
The former UBS boss is suing the Spanish bank, which hired him to be the chief executive before changing its mind because he cost too much
Andrea Orcel and Santander chairman Ana Patricia in a Madrid court on Wednesday
Ana Botín, the Santander chairman, has argued that Andrea Orcel never received a contract to become its chief executive as a court battle over the bank’s decision to change its mind on hiring him begins in Madrid.
The Spanish lender, which has a big UK presence, offered the UBS banker the top job in late 2018 after he had spent more than two decades advising Santander. During that time he developed a close relationship with the wealthy Botín family, who founded and continue to run the bank.
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