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The Chinese general and philosopher Sun Tzu, author of the “Art of War,” once said it is important to “keep your friends close and your enemies closer.” A modern-day translation for bankers might be, “keep your customers close and your regulators closer.” In other words, stay closest to those who have the greatest impact on your fortunes. Bankers and their regulators aren’t at war, of course, but there’s no question that state and federal prudential regulators exercise enormous control over the institutions under their supervision. Smart management teams and boards understand this and manage the regulatory relationship very carefully, emphasizing…
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WRITTEN BY
Jack Milligan
Editor-at-Large
Jack Milligan is the Editor-At-Large of Bank Director magazine, a position to which he brings over 40 years of experience in financial journalism organizations. Jack contributes to Bank Director’s editorial coverage and leads its director training efforts. In 2022, Jack developed Bank Director’s Director Certification Program to bring much-needed governance training to bank boards.
Jack is a nationally recognized speaker at financial industry conferences. Over Jack’s tenure, he has interviewed some of the most notable bank CEOs and senior leaders in the financial industry. He has a master’s degree in Journalism from The Ohio State University.