Word: independente
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Banks have fired tens of thousands of employees in the past year in order to cut costs. And layoffs in the financial-services business are expected to continue - American Express just announced it will lay off 4,000 workers in its latest round of cutbacks. But in one area banks...
"There are going to be changes to the boards of every major financial-services firm," says Clarke Murphy, co-head of the board-services practice at executive-search firm Russell Reynolds. "As many as half of their independent members [i.e., directors who are not officers of the bank] may change...
But Bank of America and Citigroup are not alone in needing to make changes. At Wells Fargo, only four of that bank's 17 independent board members have a background in the financial-services industry. And even among that group, only two have been executives at a bank. Fifth Third...
Velupillai Prabhakaran, 54, the leader of the Liberation Tigers of Tamil Eelam (LTTE) who was declared killed by the Sri Lankan government on May 18, had decades to think about how his end would come. It could have come from the cyanide capsule that he - like many Tiger fighters - wore...
Many in the Maldives now call for a reckoning with elements of Gayoom's regime, some of whom have left the country. Nasheed, though, refuses to go after the former government and its deposed dictator. "Few have been tortured, or brutalized, as much as I have," he says. But Nasheed...