The various changes in leadership of European banks in the past few months have all involved the exit of high-profile chief executives who had turned around their institutions.
The replacement CEOs are generally less well-known, often insiders, less charismatic and certainly less powerful. And the general direction of travel appears, if anything, to be the opposite when it comes to bank chairmen.
This trend fits with the sector’s wider evolution. The very future of many European banks was in question a decade ago, so CEOs naturally gained more power.
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