Banks wrestle with CEO succession plans

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On April 8, the board of JPMorgan Chase launched its proxy assertion prematurely of its annual assembly of shareholders. Whereas the assertion is ostensibly a pitch to shareholders about reelecting board members and to justify govt pay packages, this 12 months, the board outlined its ideas on CEO succession.

JPMorgan wasn’t the one financial institution grappling with who would at some point — or in brief order — take excessive spot. Final 12 months, Morgan Stanley elevated a decades-long veteran to steer the financial institution; Ally Monetary lately ended a six-month CEO search, leading to Uncover dropping its CEO; and Mastercard’s chief monetary officer grew to become its CEO on the finish of 2021.

This is a have a look at among the strikes, and would-be strikes, at these 5 banks.

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