Orcel, 46, has advised such banking giants as Emilio Botín at Banco Santander and Daniel Bouton at Société Générale. He generated $500 million in revenue for Merrill in 2007 (earning a controversial $33 million bonus).
Postmerger, Orcels mentor, Greg Fleming, and most of his European lieutenants left Merrill. Montag hastily promoted Orcel and told him to hire fresh rainmakers. Orcel is confident his team can provide more than half of the investment banks revenues, as it did at Merrill.