Curry: OCC ‘Should Consider’ Separate CEO, Chairman Roles

The OCC may examine whether national banks should separate the roles of chairman and chief executive officer, Comptroller of the Currency Thomas Curry said at an industry event today. “The OCC’s heightened standards require that a percentage of national banks board members be independent. This is one area that may require further work.”

He pointed out that “some national banks have split the roles of board chairman and chief executive officer to clearly delineate roles and governance of the institution and eliminate potential conflicts of interest that exist when the same individual serves in both roles,” adding that “we should consider whether this structural change by some national banks makes sense for all federally supervised banks, or at least the largest most complex ones.”