The One-Tier Board
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The One-Tier Board (IVOR nr. 85) 2012/3.5.8:3.5.8 Corporate governance at banks
The One-Tier Board (IVOR nr. 85) 2012/3.5.8
3.5.8 Corporate governance at banks
Documentgegevens:
Mr. W.J.L. Calkoen, datum 16-02-2012
- Datum
16-02-2012
- Auteur
Mr. W.J.L. Calkoen
- JCDI
JCDI:ADS596066:1
- Vakgebied(en)
Ondernemingsrecht (V)
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Voetnoten
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Nestor Advisers of April 2009.
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A report of Nestor Advisors of April 2009 entitled "A comparative case study of six US investment banks"1 shows that two failed banks — Bear Sterns and Lehman Brothers — had "stale", entrenched boards with high stakes in shares, whereas Goldman Sachs and JP Morgan Chase had younger boards with a higher percentage of independent directors with experience of financial institutions. All these banks had a combined CEO chairman. Citigroup, after it had to be rescued too, now has a separate non-CEO chairman.