Orcel's Rise to Santander CEO Ruined by Dispute Over UBS Pay

The transcript discusses a dispute over deferred pay involving Andrea Horschell, a UBS banker who was set to join Banco Santander. The conflict centers around $50 million in deferred bonuses, with UBS refusing to pay for joining a competitor. The situation has led to a fallout between UBS and Santander, affecting their relationship and Horschell's future prospects.

What was the main reason Banco Santander decided not to hire Andrea Horschell?

• He had a conflict with the UBS management.

• He was not qualified for the position.

• There was a dispute over $50 million in deferred bonuses.

• He refused to relocate to Spain.

Why was the deferred pay issue not resolved earlier according to the discussion?

• The bonus amount was miscalculated.

• Santander was unaware of the bonus amount.

• UBS and Santander were hoping for a compromise.

• Andrea Horschell was not interested in the position.

What was one of the expectations from Andrea Horschell during the dispute?

• To negotiate a higher bonus.

• To accept a pay cut.

• To join a different bank.

• To relocate to a different country.

How might the relationship between UBS and Santander be affected by the dispute?

• It will likely improve.

• It may become strained.

• They will merge into one company.

• It will remain unchanged.

What role did Andrea Horschell play in the relationship between UBS and Santander?

• He led the relationship as a key figure.

• He was not involved at all.

• He was a competitor to both banks.

• He was a minor consultant.