G. Kennedy Thompson of court a case in which it allegedly laundered over $378 billion in cash and traveler's checks from Mexican drug cartels in the years 2004 - 2006, during Thompson's tenure as CEO. Terms of the settlement included a $110 million forfeiture and a $50 million fine. Thompson was pushed out of Wachovia Bank (WB) on June 2, 2008, as head of the nation’s fourth-largest bank, becoming the latest financial services executive to be ousted amid turmoil in the U.S. housing market. Thompson will not receive any incentive pay for the 2008 fiscal year, but according to a filing with the
Simon Thompson (businessman) Simon Thompson (businessman) Simon Thompson (born 16 June 1959) is a British investment banker and business executive. He is the former chairman of Tarmac Group and Tullow Oil. He serves as the chairman of 3i, a private equity and venture capital firm. Simon Thompson was born on 16 June 1959 in Bramhall, U.K.. He was educated at the Manchester Grammar School. He graduated from University College, Oxford, where he earned a bachelor's degree in geology in 1985. Thompson worked for Lloyds Bank from 1981 to 1985, N M Rothschild & Sons from 1985 to 1994, and S. G. Warburg &