A dive into American Banker's photo vaults offers a view of the banking industry's movers and shakers at the height of their powers. Here's a look at prominent figures, from the CEOs who steered the megabank mergers of the late 1990s and the man who rescued Fannie Mae during a bout of insolvency in the early 1980s.See also part I and part II.
A Big Appetite
Some bankers are hungry for acquisitions. As head of the Providence, R.I.-based Fleet Financial Group, J. Terrence Murray was voracious. The bold deal-maker grew Fleet Financial from a small $3.5 billion company in the early 1980s to the dominant bank in New England. Murray retired from Fleet in 2001, having overseen 80 acquisitions during his two decades at its helm. In 2004, Fleet sold to Bank of America for $47 billion in a deal that gave the latter bank a toehold in the Northeast. The forward-looking Murray also predicted the advent of digital banking back in 1986. He told American Banker that the full-service branch as we know it today will be practically nonexistent in a quarter-century, and would be replaced by telephones, ATMs and computers.