The former Citigroup CEO is investing $100 million in Fair Square Financial, a midmarket card issuer; the exit leaves one executive atop the bank’s securities division.
Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.
Matt Zames, the former JPMorgan Chase executive who had been seen as a candidate for Deutsche Bank's top job, was named president of the investment firm Cerberus Capital Management.
Several states have created their own operations aimed at shoring up what they see as oversight holes created by the CFPB; JPMorgan CEO’s annual letter (47 pages, this one) runs the gamut.
No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors.
