Former CEOs Trade Retirement For Bank Infomercials
Former commercial bank CEOs are getting a new lease on life by becoming the Billy Mays of the PE world. Firms are having success appeasing government concerns over PE ownership of failed banks by hiring retired bank CEOs to spearhead takeover efforts. Evidently those individuals that can sell their hybrid bank revival strategy of Oxi Clean, Mighty MendIt and Mighty Putty to the government now have special place at PE firms.
Ex-Bank CEOs Become Buyout Pitchmen [WSJ]