John S. Reed tops a long list of big-name bankers to leave the field in recent months.

"It really is true. The whole industry has retired," Mr. Reed, 61, said in an interview. Apart from Bank of America Corp.'s Hugh McColl, "everybody has left," he said. "You've had a whole generation retire."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.