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
Bank of Credit and Commerce International with capital, 25% of which was from Bank of America and the remaining 75% from Sheikh Zayed bin Sultan Al Nahyan, the ruler of Abu Dhabi in the United Arab Emirates. BCCI expanded rapidly in the 1970s, pursuing long-term asset growth over profits, seeking high-net-worth individuals and regular large deposits. The company itself divided into BCCI Holdings with the bank under that splitting into BCCI SA (Luxembourg) and BCCI Overseas (Grand Cayman). BCCI also acquired parallel banks through acquisitions: buying the Banque de Commerce et Placements (BCP) of Geneva in 1976, and creating KIFCO (Kuwait International Finance Company), Credit &