Magazine article American Banker


Magazine article American Banker


Article excerpt

Byline: Paul Davis, Heather Landy and Matthew Monks

No. 1 - Oh, No

Henry Meyer is No. 1 and Dowd Ritter No. 2 on a roster neither of them will be proud to make:Bloomberg Marketse_SSRqannual list of leastvaluable leaders of financial services companies.

Meyer, the chairman and chief executive of KeyCorp, saw his compensation rise 21% last year, though KeyCorp hadeight straight losing quarters.

The magazine's survey considers a company's stockprice returns as well as the executive's compensation to determine the worst deals for shareholders.

Ritter retired in April as the chairman and CEO of Regions Financial Corp.His compensation rose 42% in 2009 despite a fullyear loss of $1.26 billion. (Ritter also placed second a year earlier.)

Otherswho made the 2010 list, to be released next week, include State Street Corp.'sRonald Logue and SunTrust Banks Inc.'sJim Wells.

Five on the Isle

Banking analyst Mark Fitzgibbon at Sandler O'Neill & Partners LP recently took a few folks on a bus tour of Long Island, N.Y., where they visited five banks, searching for investment opportunities. The seeds of a zanybutcerebral Steve Carell movie? Perhaps. An event that yielded some interesting findings and trends? Definitely.

Most of the banks told the group that the worst of their credit troubles were behind them; that real estate prices seemed to have bottomed; and that economic activity on Long Island was improving. …

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