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Andrea Orcel’s move from UBS to Santander falls through

IN ONE LUDICROUSLY well-paid profession, January is a month for big-money moves. Stars grin for the cameras, are lauded by their new bosses and gush about their future teammates. Sometimes deals collapse at the last minute—occasionally, embarrassingly, in public. So much for football, where such pratfalls are merely part of the show. But not, surely, at Spanish banking’s equivalent of Real Madrid?
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