UBS Warned Santander It Would Apply Compensation Rules To Orcel If He Left Updates

The Swiss bank strips any employee leaving voluntarily to join another financial company of any deferral payments, Weber said.

Andrea Orcel, who was UBS’s top investment banker at the time, is suing Santander in a Spanish court over the withdrawal of an offer to make him CEO on disagreements over a financial compensation of deferral payments owed by UBS.

UBS Warned Santander It Would Apply Compensation Rules To Orcel If He Left

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