I found some info when I was trying to decide on which bank to move my account into & I thought I would share.
These are the 13 banks which received the largest bailouts, the time put in by the active CEOs in September 2008 when the subprime mortgage bubble burst, and the fates of those CEOs in the aftermath.
| Bank Name | CEO | Time Put In | Fate | Source |
|---|---|---|---|---|
| Bank of America | Kenneth Lewis | 8 yrs | retired end of 2009 w/ $53M in pension benefits | Link |
| Citigroup | Vikram Pandit | 9 mos | resigned 10/2012 | Link |
| JPMorgan Chase | Jamie Dimon | 2 yrs 8 mos | still CEO | Link |
| Wells Fargo | John G. Stumpf | 1 yr 3 mos | still CEO | Link |
| GMAC (now Ally Financial) | Alvaro de Molina | 6 mos | forced to resign 11/09 w/o severance pay | Link |
| Goldman Sachs | Lloyd Blankfein | 2 yrs 4 mos | still CEO | Link |
| Morgan Stanley | John J. Mack | 3 yrs 3 mos | retired in 2010 | Link |
| PNC Financial Services | James E. Rohr | 8 yrs 4 mos | still CEO | Link |
| U.S. Bancorp | Richard K. Davis | 1 yr 9 mos | still CEO | Link |
| SunTrust | James M. Wells | 1 yr 8 mos | retired 4/2011 w/ pension valued at $4.5M in 2010 | Link |
| Capital One Financial Corp. | Richard D. Fairbank | 20 yrs | still CEO | Link |
| Regions Financial Corp. | C. Dowd Ritter | 1 yr 10 mos | retired 3/10 | Link |
| Fifth Third Bancorp | Kevin T. Kabat | 1 yr 5 mos | still CEO | Link |
Here is the same info for the CFOs
| Bank Name | CFO | Time Put In | Fate | Source |
|---|---|---|---|---|
| Bank of America | Joe Price | 3 yrs | fired 9/2011 & given $5M severance | Link |
| Citigroup | Gary L. Crittenden | 7 mos | replaced 3/09 & appointed as chief executive of Citi Holdings which he vacated 5 mos later | Link |
| JPMorgan Chase | Michael Cavandagh | 4 yrs | became CEO of Treasury & Securities Services 6/2010, now Corporate & Investment Bank Co-CEO | Link |
| Wells Fargo | Howard Atkins | 7 yrs | retired 2/11 w/ 9.25M in deferred compensation & pension benefits & stock grants valued at $17.96M | Link |
| GMAC (now Ally Financial) | Robert Hull | 9 mos | resigned 3/10 | Link |
| Goldman Sachs | David Viniar | 9 yrs 4 mos | retired 1/13 | Link |
| Morgan Stanley | Thomas Colm Kelleher | 11 mos | promoted to Co-President, Institutional Securities 1/10; now sole president of said division | Link |
| PNC Financial Services | Richard J. Johnson | 3 yrs 2 mos | still CFO | Link |
| U.S. Bancorp | Andrew Cecere | 1 yr 7 mos | still CFO | Link |
| SunTrust | Mark A. Chancy | 4 yrs 1 mo | became Wholesale Banking Executive | Link |
| Capital One Financial Corp. | Gary L. Perlin | 5 yrs 1 mo | still CFO | Link |
| Regions Financial Corp. | Irene M. Esteves | 5 mos | resigned 2/10 | Link |
| Fifth Third Bancorp | Daniel T. Poston | 4 mos (interim) | took over the position officially after Ross J. Kari served as CFO 11/08-9/09 | Link |
Ditto for the CROs
| Bank Name | CRO | Time Put In | Fate | Source |
|---|---|---|---|---|
| Bank of America | Amy Woods Brinkley | 8 yrs | retired 6/09 w/ $12M pension | Link |
| Citigroup | Brian Leach | 6 mos | promoted to Head of Franchise Risk and Strategy 1/13 | Link |
| JPMorgan Chase | Barry Zubrow | 10 mos | became Head of Corporate & Regulatory Affairs 1/12 & left organization at end of ’12 | Link |
| Wells Fargo | Michael J. Loughlin | 2 yrs 5 mos | still CRO | Link |
| GMAC (now Ally Financial) | Samuel Ramsey | 9 mos | resigned 5/10 | Link |
| Goldman Sachs | N/A | |||
| Morgan Stanley | Kenneth deRegt | 7 mos | promoted to Global Head of Fixed Income Sales and Trading | Link |
| PNC Financial Services | John J. Wixted, Jr. | 6 yrs 1 mo | there has been a new CRO since 2/12 | Link |
| U.S. Bancorp | Richard J. Hidy | 3 yrs | still CRO | Link |
| SunTrust | Thomas E. Freeman | 1 yr 1 mo | still CRO | Link |
| Capital One Financial Corp. | Peter A. Schnall | 2 yrs 3 mos | promoted to Executive VP 2/13 | Link |
| Regions Financial Corp. | William C. Wells | 2 yrs 3 mos | resigned 11/10 | Link |
| Fifth Third Bancorp | Mary E. Tuuk | 1 yr | became Market President of Western MI region 10/11 | Link |
These are the 9 largest retail banks in the US which did NOT receive bailout money.
1. HSBC – Although they did receive federal money indirectly through the AIG bailout. Also, they were implicated in a money laundering scheme on behalf of Mexican drug cartels recently. (http://www.bloomberg.com/news/2013-02-06/hsbc-reputation-crushed-by-mexican-money-laundering-ceo-says.html)
2. TD Bank – Bought South Financial Group which did receive bailout funds
3. BMO Harris – Also received federal $ thru AIG
4. Charles Schwab
5. USAA
6. Union Bank (The one that is a subsidiary of UnionBanCal)
7. Sovereign Bank (Santander in the future)
8. Bank of the West
9. BBVA
I’m hoping to move my account away from Santander soon. Are there any cooperative or community banks in the US? Maybe we have more choice in the UK. Hopefully we’ll have ‘Banks of Dave’ across the country soon: http://www.burnleysavingsandloans.co.uk/about-us/
Thanks for the comment JC. We do have quite a few community banks and credit unions in the US. One just has to search locally, and sometimes they are not as local as one would like. If the Bank of Dave has some success, we will likely see some institutions mimic their model across the pond, that is if they don’t exist already.