The banking industry will miss Joe Ackermann... As Deutsche’s chief executive, Josef Ackermann, spoke briefly about the euro, the European ideal and courage, I found myself thinking what a loss he will be for the industry when he finally retires.
...but the handling of his succession leaves much to be desired
A mole at the dinner murmured that he had interviewed a senior Deutsche employee recently. The potential candidate had revealed that the battle over who should replace Ackermann is acrimonious and is taking a toll on morale.
Generosity adds to buoyant mood at Euromoney dinner
The highlight of the evening was the generosity shown towards Euromoney’s chosen charity: Little Rock Inclusive Early Childhood Development Centre.
Why do CEOs ignore a key part of their role?
It occurs to me that none of the major banks has a proper succession plan in place today. Think about UBS, Credit Suisse, Barclays, Goldman Sachs and even HSBC. Who would step into the breach if the current chief fell under a bus?
Calamity Ken’s legacy grows at Bank of America
Someone who was an autocratic bank chief and who never bothered to put in place a proper succession plan was Ken Lewis, the former chief executive and chairman of Bank of America. Lewis’ legacy is a murky mess.
Nat Rothschild, 2007 and all that
Titans of the financial and political establishment gathered in Montenegro on July 7 for a three-day fiesta to celebrate Nat Rothschild’s 40th birthday.
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