Santander ready to fight legal battle against Andrea Orcel's €100m lawsuit

Eugenia Jiménez
clock • 2 min read

Spanish lender Santander has said it is ready to fight in court a lawsuit brought by Italian banker Andrea Orcel after the bank withdrew an offer to make him chief executive officer. Orcel launched earlier this month a €100m lawsuit against Santander alleging that the Spanish lender had breached his contract, while demanding the company to hire him as CEO or paying damages totalling €100m. According to Reuters, Santander was given then about 20 days to respond to the lawsuit filed by Orcel in a court in Madrid. Orcel's claims are based on a four-page letter in which the bank formal...

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