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A $57 million pay dispute sees Andrea Orcel get dumped as new Santander CEO before even getting started

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The Spanish banking giant said that the level of compensation that was required to hire Andrea Orcel was 'unacceptable.'

 

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Santander Cancels Andrea Orcel’s Appointment as CEO Over CompensationBanco Santander withdrew its job offer to former UBS executive Andrea Orcel to be its next chief executive after concluding the high-profile investment banker was too expensive.
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A top banker was about to be made CEO but his pay package was too big so the offer was yankedProminent investment banker Andrea Orcel loses CEO job at Santander after the Spanish bank and his former employer balk at big deferred compensation payout. Correction, local banking is known for impressive titles, short hours and smaller paychecks.
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