I urge you to rise above any speculation you hear ... rest assured I will continue to inform you as and when we have information to share.

Andrea Orcel

Andrea Orcel (Italian: [an?dr??a or?t??l]; born May 14, 1963) is an Italian investment banker who most recently served as the president of UBS Investment Bank from November 2014 to September 2018. He was slated to succeed José Antonio Alvarez as chief executive of Banco Santander from September 2018 to January 2019. Since early 2020, Orcel has been linked to taking over as CEO at a variety of financial institutions including starting his own boutique investment bank. Born in Rome, Italy, Orcel attended the University of Rome, Sapienza, graduating with degrees in economics and commerce. He attended the INSEAD business school in Paris before working at Goldman Sachs and Boston Consulting Group during the late 1980s. In 1992, he was hired by Merrill Lynch & Co. where he spent the succeeding twenty years in their mergers and acquisitions (M&A) department in London. He left Merrill Lynch in 2012 to join Swiss investment bank UBS at the behest of its CEO, Sergio Ermotti. From 2012 to 2018, Orcel endured the 2013 Libor trading scandal, led a corporate restructuring, downsized the bank, and increased up M&A activity. Orcel is a controversial figure in European business and international banking. He has been called one of the most successful investment bankers of his generation. Orcel has also been routinely criticized for his abrasive management style, overworking subordinates, and being hyper-competitive. He is an outspoken supporter of increased banking regulation, corporate social responsibility, and enhanced market supervision.

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