Celebrity Directors

(Image: Thinkstock)

Maj. Gen. Robert McMahon (Ret.) Maj. Gen. Robert McMahon (Ret.)

McMahon joined the board of State Bank Financial in Atlanta last month after retiring as the commander of the air logistics center of Robins Air Force Base in Warner Robins, Ga. He also has tied to economic development as the president and CEO of the 21st Century Partnership in Warner Robins.

Arthur Rooney II Arthur Rooney II

A co-owner of the Pittsburgh Steelers football team, Rooney joined the board of F.N.B. Corp. in Hermitage, Pa., in 2006. F.N.B. has said that his managerial role with the NFL team, along with his experience as a lawyer, qualify him to serve on the board.

Jim McMahon Jim McMahon

McMahon may have mastered the Super Bowl Shuffle, but the former NFL quarterback apparently was less skilled as a bank director. McMahon, along with other directors of Broadway Bank, is facing a lawsuit from the Federal Deposit Insurance Corp. associated with the Chicago bank's 2010 failure. He was a director from 2003 to 2008.

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Geno Auriemma Geno Auriemma

Berkshire Hills Bancorp wanted to make a splash after buying a bank in Connecticut, so earlier this year it recruited the University of Connecticut women's basketball coach to join its board. Auriemma, who also coached women's basketball in the Summer Olympics, will also serve as a spokesman for Berkshire Hills.

Ivanka Trump Ivanka Trump

The 29-year-old daughter of Donald Trump helps run her father's business empire and has a recurring role on his reality TV show. Signature Bank hired her late last year to replace outgoing director Frank Selvaggi, a business advisor to celebrities and entertainment-industry big shots. (Image: Bloomberg News)

Gen. Tommy Franks (Ret.) Gen. Tommy Franks (Ret.)

Bank of America touted its recruitment of the four-star U.S. Army general in January 2006. His tour of combat included the financial crisis and the decision to acquire Merrill Lynch in 2008. Franks resigned from the board in June 2009 as B of A overhauled its lineup of directors. (Image: Bloomberg News)

Jake Delhomme Jake Delhomme

Delhomme led the Carolina Panthers to the Super Bowl in 2004 but people in Louisiana remember the quarterback more for winning two conference championships while at the University of Louisiana Lafayette. MidSouth Bancorp drafted the local legend in May to serve on the advisory board of its bank. (Image: Bloomberg News)

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Preston Geren Preston Geren

Texas Capital Bancshares in Dallas also went the military route, adding Pete Geren, a former U.S. congressman and secretary of the Army, to its board in July. Geren is a former director at Cullen/Frost Bankers in San Antonio.

Condoleezza Rice Condoleezza Rice

The former Secretary of State may not serve on a bank board, but she was selected by Regions Financial in October 2009 to serve as a senior advisor to the Birmingham, Ala., company's directors. Rice will help us "navigate through today's rapidly changing environment and uncertain times," the company said in a release announcing her addition. (Image: Bloomberg News)

Stu Voigt Stu Voigt

Voigt, a former Minnesota Vikings tight end, reached a settlement with federal regulators in July for his alleged misdeeds while serving as the chairman of First Commercial Bank in Bloomington, Minn. The FDIC accused Voigt of approving loans without disclosing his personal financial relationship with the borrower.

Dave Wannstedt Dave Wannstedt

Wannstedt, a former coach of the Miami Dolphins and the current defensive coordinator for the Buffalo Bills, was a director of Orion Bank before it failed in 2009. Former Orion Bank CEO Jerry Williams was later sentenced to six years in jail for his role in a fraud conspiracy that helped topple the bank.

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Banks have a long history of hiring personalities to fill board seats. The practice fell out of favor during the financial crisis but is slowly experiencing a revival. Some appointees bring financial expertise to the table, while others deliver a certain cache to the bank.

 

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