Compliance Risk Management illustrated with Santander Emilio Botin Luqman Arnold Stephen Hester

The high significance of compliance risk managementre-branded as Santander price, and being a part of
is illustrated with the high-profile Employment Tribunalthe gigantic Emilio Botin Banco Santander Central
case Chagger v Abbey National plc & Hopkins (2006),Hispano Group - BSCH) terminated Mr Chagger's
where the Tribunal found unfairness and raceemployment in 2006, claiming the dismissal was the
discrimination and (after Emilio Botin Abbey Santanderoutcome of a fair compulsory redundancy exercise.
bank refused to re-employ Mr Chagger, as theMr Chagger, on the other hand, claimed that the
Tribunal had ordered in order to remedy the situationactual reasons behind his termination were unfairness
without financial compensation) ordered Abbeyand racial discrimination. Balbinder Chagger was of
Santander group to pay Mr Chagger theIndian origin. He worked for Emilio Botin Abbey Grupo
record-breaking £2.8 million compensation awardSantander shares price as a Trading Risk Controller,
to cover his loss. Abbey Santander shares (the UKearning around £100,000 a year and reporting
retail bank saved from its financial troubles byinto Nigel Hopkins.
Luqman Arnold and Stephen Hester, soon to be