Writing in “One size fits none in quest to define ideal bank board”, Laura Alix states:
“Where boards are concerned, diversity doesn’t mean strictly gender or ethnicity, but also diversity of thought — especially relevant thought, said Carter Burgess, managing director of the search firm RSR Partners. Banks have always liked to staff their boards with directors experienced in other regulated industries — utility companies are common — but increasingly banks are looking for directors with tech experience, he said…
…And when it comes to independence, the consensus is that the more independent directors you have, the better that is for the board. Outsiders are generally thought to do a better job of monitoring management, while insiders are considered better suited to providing advice and continuity.”
To continue reading, click here (subscription required).