When a bank gets sold, its CEO often sits at a career crossroads.
Sometimes the chief executive is close to retirement age; indeed, the decision to sell the bank is frequently tied to the career arc of an aging CEO. But in other cases, the top executive at the acquired bank still has plenty of working years left.
The career paths of eight former CEOs, summarized below, suggest that these executives regularly find a new role in the banking industry — often as a board member or as the chief executive of another bank.
But some of the former chief executives have taken less common career turns, including one who did a high-profile stint in government and another who had a short turn at the top of the city of Cleveland’s public-school system.
The list spans nearly 15 years of bank M&A — from Commerce Bancorp’s sale back in 2007 to two regional-bank deals that closed earlier this year.
Source: americanbanker.com