Management by committee
New details about the Executive Life affair
CREDIT LYONNAIS, a French bank, has consistently maintained that wrongdoings over the purchase in 1991-93 of Executive Life, an American insurance company, did not come to the attention of Jean Peyrelevade, the bank's chairman since November 1993, until the end of 1998. The bank faces criminal proceedings and is a defendant in several civil lawsuits in America over Executive Life.
This article appeared in the Finance & economics section of the print edition under the headline “Management by committee”
From the July 14th 2001 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance & economics
China meets its official growth target. Not everyone is convinced
For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s
Ethiopia gets a stockmarket. Now it just needs some firms to list
The country is no longer the most populous without a bourse
Are big cities overrated?
New economic research suggests so
Why catastrophe bonds are failing to cover disaster damage
The innovative form of insurance is reaching its limits
“The Traitors”, a reality TV show, offers a useful economics lesson
It is a finite, sequential, incomplete information game
Will Donald Trump unleash Wall Street?
Bankers have plenty of reason to be hopeful