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First Niagara Financial Group Inc. Message Board

  • saratogaslots saratogaslots Dec 19, 2013 9:56 AM Flag

    Street Cred

    The immediate street reaction to the Crosby appointment has been a harsh negative. It appears that the board made little effort to regain credibility on the street after the HSBC fiasco. The board either failed to, or made no attempt to, hire a CEO with strong banking credentials.

    I don't have any insights into Crosby's leadership ability, but that's really the point. The market would have preferred to see an appointment of an individual with a strong track record. Crosby may wind up being an ok selection, but the lack of a "home run" appointment says something about the board & its vision. Did the board not recognize that their choice was going to be perceived as either a home run or a strike out?

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