FT News Briefing Wednesday, February 26
Feb 26, 2020
In this discussion, David Crow, the Banking editor at the Financial Times, sheds light on the recent shake-ups in European banks. He highlights how institutions are scrambling to secure fresh leadership in a rapidly changing financial landscape. Crow delves into the motivations behind these transitions, emphasizing the urgent need for stability and innovation after recent crises. He also touches on the challenges of effective succession planning, stressing the importance of skilled leaders to navigate a low interest rate environment.
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Mixed Signals on Coronavirus
- The U.S. is preparing for local transmission of the coronavirus, acknowledging the impossibility of complete isolation.
- Despite this, the administration sends mixed messages, with officials simultaneously requesting emergency funds and downplaying the threat.
Disney CEO Transition
- Bob Iger stepped down as Disney's CEO after 15 years, transitioning to executive chairman.
- Bob Chapek, former chairman of Disney's theme parks, will replace him.
New Era for European Bank CEOs
- European banks are experiencing significant leadership turnover, seeking CEOs skilled in cost-cutting and digitalization.
- This shift stems from a lack of revenue growth and the persistence of low interest rates.