In an effort to drive strategic change and invest in a new talent, some banks are left with no other choice than to drop the axe on their leaders. While ditching chief executives was once at an all-time high in the U.S., it seems that the attention has shifted to Europe.
A Financial Times article reports that there has been a shift in power in some of Europe’s major banks such as Credit Suisse, Deutsche Bank, Standard Chartered and Barclays—a sign that the past still weighs heavily at Europe’s top financial institutions. The article points out that dealing with the post-financial crisis remains a major hurdle for many companies and now even regulators are feeling the heat, with Martin Wheatley ousted from the Financial Conduct Authority.
