The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Antisocial distancing

The masks stay on as Ana Botín and Andrea Orcel face off in court.

Court hearing over Santander's withdrawn job offer to Orcel, in Madrid
Source: Juan Medina/Reuters

In the end it was less showdown and more damp squib. Santander executive chair Ana Botín and UniCredit chief executive Andrea Orcel finally made it to a Madrid court on May 19 to thrash out their dispute over the compensation that Orcel says he is owed for Santander not hiring him to be the Spanish bank’s chief executive in 2019.

Orcel, passport in hand, might have been forgiven for thinking he was at an airport, as he began to march towards the court’s fast-track Entrada Profesionales only to be pointed back towards the makeshift public check-in desk outside.

Once inside, Covid masks conveniently hid the facial expressions of the protagonists.

On September 25, 2018, as it announced its plans to hire Orcel, Santander had tweeted a promotional clip of the two in a happier meeting, with the now-obligatory happy-strum guitar accompaniment – but it is fair to assume that these two old friends are no longer on smiling terms. Four empty chairs separated the pair as they sat facing judge Javier Sánchez Beltrán of Madrid’s Court of First Instance Number 46.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree