Governance Symposium Draws Missouri Bankers

In a symposium on the MU campus, executives and directors of Missouri banks had a timely discussion about corporate governance.  Considering that the state of Missouri ranks fifth in the nation in number of banks, a focus on “The Future of Bank Corporate Governance” was relevant for bankers and their boards of directors.

The symposium, held on April 2, was organized by John Howe, the Missouri Bankers Chair and MU professor of finance; in association with, the Missouri Bankers Chair Advisory Board; and Stephen Ferris, J.H. Rogers Chair of Money, Credit and Banking.  More than 60 banking executives, board members, and regulators attended the symposium. 

In discussing the first conference he has conducted as Missouri Bankers Chair, Howe said, “We chose this topic because state regulators and banking leaders are looking at the new federal regulations for best practices and how they will affect community banks.”  Howe explained that he also wanted participants to consider that the banking industry is in “a revolutionary period, not just an evolutionary period” in trying to sort out the meaning of legislation and how to assure that banking leaders exhibit creative vision, complemented by prudence and personal integrity. 

Therese Maynard gave the keynote address.  A professor of law at the Loyola Law School in Los Angeles, Maynard spoke about “The Revolution in Corporate Governance:  Key Issues and the Banking Industry.”  She emphasized that mere rules are not enough and that bank leaders must have moral character as well.

Other speakers included Eric McClure, commissioner of finance for the state of Missouri, and Max Cook, Missouri Bankers Association president.  Another session included a panel discussion involving Jeff Aberdeen, chief administrative officer and controller, Commerce Bank; Chris Blum, senior bank analyst, Edward Jones; and Mark Hargrave, a lawyer with Shook, Hardy & Bacon LLP.