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February 28, 2009

Do Fiduciary Duties Deter Applicants for Bank Boss?

    Reportedly, there is a fear that deters people from applying for the position of Bank Boss, in addition to "activist shareholders, the public scorn and the irate legislators" that currently come with the territory.   At least one commentator adds the opinion that "facing legal issues" from poor performance while these people are in the Bank Boss position may deter them from applying for the position in the first place.  See Michael J. de la Merced, "Bank Chiefs Sit in Jobs Turned Sour" p. B1, col. 6 (New York Times Nat'l Ed., Business Day Section, Friday, February 27, 2009).

    If persons are so afraid of being held accountable for how they fulfill their Fiduciary Duties, it may not be a bad thing if they do not apply for Fiduciary positions.

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Posted by on February 28, 2009 at 02:49 PM in Directors and Officers Insurance, Fiduciary Duty, Market Performance |

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