Friday, June 29, 2007

NEWSMAKER-Commerce Bank CEO presided over innovation, scandal

(Reuters) - But New Jersey entrepreneur Vernon Hill applied lessons
learned running Burger King outlets, about friendly service and
convenient hours, to make Commerce Bancorp the fastest
growing U.S. bank and a revolutionary force in retail banking.




The Commerce chairman and chief executive retired on Friday
under pressure, at age 61, after years of questionable insider
dealings at the bank triggered federal regulatory probes. His
sudden departure from the bank he founded 34 years ago ends a
career where he came to be regarded as a visionary and a great
CEO, but also a maverick with little regard for the rules.


Read more at Reuters.com Bonds News

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