C-suite

The film industry is painting an ugly picture of what life is like inside banks, and that could hurt banks' recruitment efforts.

A growing number of credit unions are creating the position of chief innovation officer on the management team in order to better define and execute cross-departmental innovation strategies.

One untapped resource is appealing to investors to allocate more of their private wealth to companies with successful gender diversity programs.

Regulators need a principles-based approach that seeks to position boards as watchtowers for their banks while not subjecting directors to overly burdensome restrictions.

Apologies to those yearning for escapism, but it is hard to escape turmoil — in financial services, in the economy and in civilization — in this year’s reading list. That said, these weighty topics promise to stimulate the mind: How AI will disrupt employment; dystopian imaginings and real-life histories of societal shifts; the necessity of collaboration; bitcoin’s path from obscurity to relevance; the need for leaders to make sacrifices; and more. Recommendations are courtesy of American Banker readers, editorial staff and BankThink contributors.

The online small-business lender has also announced the hiring of a new U.S. head of capital markets.

Michael Cleary, Santander's head of consumer and business banking, and Robert Rubino, a former executive vice president at Citizens Financial Group, will share duties while overseeing their own business units.

The moves could position Christopher Gorman and Don Kimble as potential successors to CEO Beth Mooney.

Given Jamie Dimon’s stature in banking, it’s unlikely that the longtime CEO's role on the advisory panel of a controversial president could tarnish JPMorgan Chase's reputation. But his involvement nonetheless carries an element of political risk.

David Rainbolt, who has been the company's CEO since the early 1990s, has handed the reins to a pair of longtime deputies. Rainbolt will stay at BancFirst as its executive chairman.

In a world where confidence is rewarded more than indecision, businesses risk elevating confident leaders who overestimate their abilities. In banking, that can have harmful effects.

The bank also announced that it has recruited a BancWest executive to replace Michael Descheneaux as CFO.

James Herbert, 72, has once again postponed retirement. The longtime CEO was scheduled to step down at yearend, but the company says he will remain at the helm through 2020.

The Arizona company said Kenneth Vecchione would be a candidate to eventually replace CEO Robert Sarver.

The Mississippi company said Mitchell Waycaster will succeed Robin McGraw in May 2018.

Rusty Cloutier had been CEO of MidSouth Bancorp for 32 years. Energy-sector woes helped do him in.

Craig Dahl, who took over as CEO last year when Bill Cooper retired, has added the chairman title.

Doug Bowers will serve as the permanent replacement for Steven Sugarman, who resigned in January.

Joseph Evans will step down as CEO on June 1, though he will remain the company's chairman. Thomas Wiley, a longtime associate of Evans, is set to take the helm.

MidSouth also removed Cloutier's son as part of what it called a "transition plan already under way to improve” performance.