Well ... I guess I won't try to apply color to a headline again. LOL FleetBoston Changes Oust Some Execs August 5, 2002 â?? A high-level shake-up at FleetBoston Financial Corp. has cost some top executives in its risk-management division their jobs as the company tries to work through bad loans, many to the telecoms sector. Among the departures are John Mastromarino, executive vice president for risk management and Ed Bayone, chief of global risk. Fleet spokeswoman Allison Gibbs confirmed Friday that those two and three unnamed executives had left the company, though she did not say how many were actually fired. Gibbs said the departures were part of a company realignment. "That division as well as the whole company is looking at reorganizing to better fit the risk management area with the wholesale banking division that it serves," she said. Full Story: http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020802/ap_on_bi_ge/fleetboston_shake_up_2
Butch - Fleet has been going through a lot of changes - this last round of oustings was a putge of folks who were tainted with Enron, Worldcom, and the Latin America (Argentina, Uraguay) messes. These were primarily the corporate risk managers. This does NOT affect the credit card or consumer banking areas- the only ones making any money for the bank right now. -mj
