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.
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.
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.
