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FX poll 2008:

FX poll 2008:

FX moves to centre stage

Sovereign wealth funds on euromoney.com

Sovereign wealth funds on euromoney.com

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February 2008

Board stupid

The global banking industry faces its biggest challenge in decades. Hundreds of billions of dollars have been written down and wiped off its market value in the space of just six months. But shareholders looking to independent directors to shore up their interests and make sure the same mistakes do not happen again are likely to be disappointed. The make-up of many banks’ boards of directors means they simply aren’t qualified for the task.




Bank CEOs still in credit with shareholders

Online extra: Full list of bank board directors and titles
Online extra: Links to the relevant pages on banks’ websites

ROGER BERLIND IS a theatrical producer. During the septuagenarian’s glittering career on Broadway, his shows have garnered an amazing 62 Tony awards. He has put on definitive productions of such classics as Guys and Dolls, Kiss Me Kate, Hamlet and Amadeus.

Marsha Johnson Evans, known commonly as Marty, has lived an impeccable life in public service. She is a retired rear admiral in the US Navy, a former national executive director of the Girl Scouts of the USA, and is president of the American Red Cross.

It is no wonder that such successful people are much in demand in corporate America. Indeed Dick Fuld, the chairman and chief executive of Lehman Brothers, asked both to sit on the board of the investment bank he has run so successfully for close on 20 years. As independent, non-executive directors, they no doubt bring that experience and wise counsel to bear in board meetings.


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