BREAKING: SANTANDER POACHES UBS BANKING CHIEF FOR CEO –

Andrea Orcel, the head of investment banking at UBS has left the bank to become the new CEO of Spanish lender Santander, it was announced today. Orcel will join Santander from early 2019.

Ana Botin, Santander’s executive chairman said in a tweet shortly after the news was announced. “Delighted that Andrea Orcel is joining us as Group CEO. As we continue to transform Santander his experience is invaluable. Welcome Andrea,”

Orcel, who had headed UBS’ investment bank from 2012 onwards, spent almost two decades with Merrill Lynch prior to joining the bank.

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