The Italian banker reduced his claim to between €57.6m and €67.1m on Monday, according to two people familiar with the matter, having previously sought €112m after Santander withdrew its offer to give him the top job just over two years ago. The legal tussle between Europe’s best-known investment banker and Santander, his former client when he worked at UBS and Merrill Lynch, is one of the highest-profile disputes in European banking in recent years. Santander claims Orcel’s offer letter did not amount to a contract under Spanish law.
RBC Wealth Management scooped up a former (UBS) team that managed $1.6 billion in client assets, adding to a string of recent hires at the regional broker-dealer. The new additions joined RBC in Princeton, N.J., and include the former mayor of the town, Chad Goerner, as well as Michael Gara, who was ranked among Barron’s Top 1200 advisors for 2021. Gara and Goerner’s team also include advisors Bruce Berman and Dustin Illgen; senior business associate Jessica Ovrutsky; registered client associate Claudia Peppard; and senior client associate Michele A. Nitti.
UBS Wealth Management USA announced today that David J. Van Acker, a Financial Advisor in the firm’s Westlake Village, California office, has been named to the Forbes/ SHOOK Research Best-in-State Wealth Advisors list for 2021. This is the third year he has been named to the list.