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.

How long after Andrea Horschell's appointment was the dispute over deferred pay revealed?

What was the main reason for the dispute between UBS and Santander regarding Andrea Horschell?

What amount of deferred bonuses is at the center of the dispute?

What was UBS's stance regarding the payment of deferred bonuses to Andrea Horschell?

What implications does the dispute have on the relationship between UBS and Santander?