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Dead Bank Walking: One Gutsy Bank’s Struggle for Survival and the Merger That Changed Banking Forever
Dead Bank Walking shuttles the reader from elaborate bankers
conventions in Hawaii to contentious Board Rooms. It peeks through the
crevices of high finance, as Smith and Richard Flamson–an outspoken
and gutsy chairman dying of a rare blood disease–embark on a strategic
acquisition spree that ultimately extends the bank’s vision to include
worldwide securities companies and a controversial and ultimately
dangerous Merchant Bank.
Too far too fast? Absolutely. When
economic recession pounds California and Security Pacific’s stock
slides, consultants warn management to halt the acquistions and if
possible locate a merger partner. If Smith can’t, the Board will find
someone who can. A potentially momentous merger with Wells Fargo Bank
falls through at the eleventh hour and an uncanny sequence of events
brings Security Pacific to the brink of disaster. Smith’s colorful
management team labors to solve the problems and ultimately embarks on
a year-long odyssey with Richard Rosenberg, Chairman and CEO of Bank of
America.
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