The bank elevated three senior executives who could be possible successors to CEO Sergio Ermotti; the move to a new rate benchmark won’t trigger a “tax event.”
When H. Lynn Harton joined United Community Bank seven years ago, he knew he was on track to eventually become CEO. But he still felt he had to earn it.
Analysts and big investors say they cannot advocate buying more shares until the bank installs a leader with the authority to lay out a plan for the future. However, speculation about potential candidates has quieted.
CFO Ewen Stevenson, who has been in place only since January after joining from Royal Bank of Scotland, has established himself as the dominant force in the 154-year-old bank's executive suite, say current and former HSBC officials.
The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.
