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Orcel claims 100 mln euros from Santander in CEO job dispute - source

Reuters - UK Focus
Updated

MADRID, July 3 (Reuters) - Andrea Orcel has made a 100 million euro ($113 million) claim against Santander after the Spanish bank withdrew an offer for him to be its chief executive, a source close to the matter said on Wednesday.

The offer was dropped as Santander said it would not meet the Italian banker's pay expectations, in an unusual u-turn for such a high-level banking appointment.

Santander declined to comment, while former UBS banker Orcel and his legal adviser in Madrid Decarlos Remon could not be reached for comment. ($1 = 0.8872 euros) (Reporting by Jesus Aguado; Writing by Paul Day; Editing by John O'Donnell and Alexander Smith)