Andrea Orcel, one of Europe’s top bankers, is set to receive €68 million after Santander was ordered to pay compensation for rescinding an offer to make him chief executive.
A Spanish court ruled yesterday that Santander should pay compensation to Orcel at the end of a legal case that has gripped the City of London. Orcel, 58, said he hoped that the decision had ended the dispute, but the bank immediately said it would appeal.
It is a setback for Spain’s biggest lender, which has a significant high street presence in Britain.
Orcel had established a close relationship with Ana Botín, executive chairwoman of Banco Santander
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The Italian was a senior dealmaker at UBS in London for years, making him a well-known and influential figure in the Square Mile. Santander was one of his key clients and he
