G. Kennedy Thompson Securities and Exchange Commission, he will get a severance of $1.45 million and accelerated vesting of $7.25 million in restricted stock. Thompson had served the company for 32 years. Lanty Smith replaced Thompson as interim CEO. On July 10, 2008 Robert K. Steel, the former Treasury Undersecretary and Goldman Sachs Group Inc. executive, took over as CEO of Wachovia Corp. However, Wachovia only survived for two more months before it was forced to merge with Wells Fargo. While CEO of Wachovia in 2007, G. Kennedy Thompson received a total compensation of $15,653,559, which included a base salary of $1,090,000, a
Mercantile Credit Bank assets were estimated at US$9.9 million (UGX:25 billion) following its growth in operations. MCBL was registered as a Merchant Bank in 1981 and commenced operations in 1986.Following the review of the banking laws in Uganda that led to the financial Institutions Act of 2004,MCBL was categorised as a Tier II Institution. As a tier II financial institution, MCBL is allowed to establish customer savings and fixed deposit accounts and other core banking products including provision of credit facilities,fund transfers and foreign exchange trading given the nature of its licence. Mercantile Credit Bank has four share holders that include two Institutional