The Different Types of CEOs for Banks

A bank is, I mean, it's not a person, right? So, it's a collection of person. Any particular it has a CEO. And the CEO themselves, of course, have their own priorities. Now, there's very interesting work that has been done on factions within the communist party in China. It turns out a lot of the CEOs are actually member of the communist party. But to the extent that CEOs have discretion, they will explore the discretion in line with the interests of their faction as well.