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Spanish Court Cuts Orcel Santander Compensation to $58 Million

  • Court had previously awarded Orcel 68 million euros last month
  • Santander is planning to appea l the compensation awarded
Andrea Orcel
Andrea OrcelPhotographer: Jason Alden/Bloomberg

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A Spanish court reduced the compensation that Andrea Orcel is set to receive from Banco Santander SA after it withdrew an offer for him to become its chief executive officer.