• Scandal: Andrea Orcel asked Santander for more money and recorded conversations with Botín

The financial newspaper Financial Times has published today the private messages that the Italian executive Andrea Orcel exchanged with the president of Banco Santander a few days before her signing by the Spanish entity was revoked .

In them, dated December 20, 2018 - Santander publicly announced that it was reversing the signing of the UBS banker on January 16 - Orcel asked Botín for more executive "power" within the bank and proposed to establish an internal philosophy "of waterfall". That is, he would only report to the president of the Bank and the other executives should do it exclusively to him . "Your decisions, but my execution," says one of these messages sent through the Signal network.

The confrontation between the Italian banker and the Spanish entity is increasing. A few weeks ago it was also reported that Orcel recorded without consent private conversations with Ana Botín after the group decided to reverse its signing as CEO.

"As the bank has learned from the lawsuit, Mr. Orcel began on January 12, 2019 to record private conversations without consent or knowledge of his interlocutors, a practice of dubious ethical and moral quality for someone who intended to serve as director delegate of Banco Santander, which confirms that the decision adopted by the Banco Santander board was the right one, "a bank statement said.

The group then presented to the corresponding judicial authority the answer and opposition to the claim filed by Andrea Orcel and wanted to specify how part of the process was developed in view of what it considers "leaks produced in order to generate a distorted image of the facts ".

Orcel had left his post at UBS, where he was head of investment banking, before frustrating his incorporation into Santander. And he has filed a lawsuit against Santander asking for an indemination of more than 100 million euros.

While Orcel says he had a firm contract and that he was fired irregularly, the Spanish bank says that his hiring was not approved by the board and that his remuneration was excessive.

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  • Banking
  • Santander Bank
  • Ana Patricia Botín

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