The decision by Citigroup’s board to name an independent director as its next chairman — and not elevate CEO Michael Corbat to the post — is seen as good governance, but it’s also a sign that the company’s recovery from the financial crisis remains a work in progress.
Information about new account holders pulled from Bank of America, JPMorgan Chase, U.S. Bank, and Wells Fargo contradicts the notion that the previously unbanked turn into costlier customers.
Technological advancements are helping to empower employees, and many organizations, including banks, will need to shift their cultures to continue to attract the best workers.
