Sidhu Targets Atlantic Coast Makeover

Banker tries shareholder activism for change at Jacksonville bank

Aug. 18, 2013 9:47 p.m. ET

Jay Sidhu is an unlikely shareholder activist.

Seven years ago, Mr. Sidhu was forced out of his longtime position as chief executive officer of Sovereign Bancorp, a large mid-Atlantic lender, in a dispute over the bank's performance.

Now, Mr. Sidhu has just done the same thing to the CEO of a small, unprofitable bank in Florida.


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