The Michigan company was caught off guard by CEO David Ramaker's decision to retire. Fortunately, Chemical had retained Talmer Bancorp CEO David Provost after buying his bank a year earlier.
Narcissistic biases can lead us to favor those who look like us or have similar backgrounds or other common bonds. This inevitably affects the quality of hiring and risk management decisions.
Matthew Zames, the bank's COO, is leaving because Jamie Dimon doesn't look like he is; Financial overhaul bill passes along party lines but is unlikely to be the last word on regulatory reform.
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.
