MADRID, May 18 (Reuters) - Andrea Orcel’s compensation claim against Santander over a withdrawn offer to make him chief executive could amount to a total of 67 million euros ($82 million), a court document seen on Tuesday by Reuters shows.
The case, which stems from Santander’s decision more than two years ago to suddenly drop plans to make Orcel its CEO after a disagreement over his pay, is due to be heard in a Madrid court on Wednesday after several earlier hearings were delayed.
A source with knowledge of the matter earlier on Tuesday told Reuters that the Italian banker was seeking slightly more than 45 million euros, although that figure did not include around 10 million euros for alleged damage to Orcel’s reputation.
The total claim detailed in the court document seen by Reuters also includes an additional 10 million euros relating to a tax equalization scheme for Orcel. This was part of a compensation package linked to 55 million euros he was due receive in future years from UBS, his then employer.
Santander and a spokesman for Orcel declined to comment. ($1 = 0.8189 euros) (Reporting by Jesús Aguado in Madrid, with additional reporting by Valentina Za in Milan; Editing by Alexander Smith)