Andrea Orcel
Italian investment banker (born 1963) / From Wikipedia, the free encyclopedia
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Andrea Orcel (Italian: [anˈdrɛːa orˈtʃɛl];[1] born May 14, 1963) is CEO of UniCredit.[2] He previously served as the president of UBS Investment Bank from November 2014 to September 2018.[2] He was poised to take on the role of Chief Executive of Banco Santander from September 2018 to January 2019; however, the job offer was later withdrawn which resulted in him taking legal action against Santander.[3] In December 2021 a judge awarded him €68m in compensation, including €10m for moral damages.[3] 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, before taking the role of Group CEO at UniCredit.[4]
Andrea Orcel | |
---|---|
Born | (1963-05-14) May 14, 1963 (age 61) Rome, Italy |
Alma mater | University of Rome INSEAD |
Occupation | Investment banker |
Years active | 1988–present |
Spouse |
Clara Batalim-Orcel (m. 2009) |
Children | 1 |
Born in Rome, Italy, Orcel attended the University of Rome, Sapienza, graduating with a degree 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. In 2021, the board of UniCredit has named Andrea Orcel as the new CEO that will take the place of Jean Pierre Mustier.[5]
Orcel is a controversial, but acclaimed, figure in European business and international banking. He has been called one of the most successful investment bankers of his generation.[6][7][8] Orcel has also been routinely criticized for his abrasive management style, overworking subordinates, and being hyper-competitive.[9][10]