Executive Movements in Worldwide Banking
Bank of America (NYSE:BAC) has selected a new leader for its global i-banking. Less than a year ago, the bank had named three executives as co-leader. After seeing a 35 percent decline in global i-banking fees, Christian Meissner has been selected as sole leader of the unit.
Has Citigroup (NYSE:C) made a recovery? After three years, chairman Richard Parsons may be leaving his post. Parsons had said he would stay with Citigroup until the company was on solid ground. Look for an announcement by March.
No bonus for Royal Bank of Scotland (NYSE:RBS) chief executive Stephen Hester. Public pressure has prompted Hester to turn down a 963,000 pounds ($1.5 million) bonus. He received more than twice that amount a year ago. The public outcry was likely due to job cuts that measured in the thousands. Share price has lost a third of its value in the last year and the bank has 82 percent ownership by the British government.