Santander’s Tussle With Jilted CEO Hire Intensifies

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Santander’s Tussle With Jilted CEO Hire Intensifies
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A dispute between Santander chairman Ana Botín and high-profile investment banker Andrea Orcel is escalating as it reaches court

A disagreement between Banco Santander SA Executive Chairman Ana Botín and high-profile investment banker Andrea Orcel over the bank’s U-turn on his appointment as its chief executive is escalating as it reaches court, with each side accusing the other of acting in bad faith.

Spain’s Santander has said it canceled Mr. Orcel’s appointment in January after finding out how much it would need to compensate him for shares he would leave behind at his former employer, UBS Group AG, a figure that people familiar with the matter said...

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