Friday, June 29, 2007

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 Government Filings News

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