Spain's Santander has accused banker Andrea Orcel of 'dubious ethical ...
FILE PHOTO: Then UBS chief executive Andrea Orcel leaves a UK parliamentary inquiry into Libor interest rates in London on January 9, 2013. REUTERS/Olivia Harris/File Photo
Orcel, one of Europe’s highest profile bankers, filed a lawsuit in Madrid earlier this month claiming breach of contract. He was offered the CEO job at Santander last year but the bank changed its mind in January, saying it could not meet his pay demands. But Santander said in a statement on Friday that the letter to Orcel was not a contract as required by Spanish law.Santander said it had learned through Orcel’s lawsuit that in January he started to record private conversations, without other parties’ knowledge or consent.
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