Reported 3 days ago
Turkey's banking regulator has proposed a new rule to limit bank CEOs' tenures to a maximum of 10 years amid fallout from a high-profile Ponzi scheme involving prominent figures. This draft regulation also proposes a similar 10-year limit for deputy general managers, extendable with regulatory approval, and aims to reduce branch managers' tenures to 4 years. The move comes in response to allegations against Denizbank's former CEO Hakan Ates and a bank manager implicated in defrauding investors, including ex-football stars.
Source: YAHOO