
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
August 24, 2023: On Monday, S&P Global slashed credit ratings. After a similar move by Moody’s, it revised its outlook for numerous U.S. banks, alerting that funding threats and weaker profitability will probably test the sector’s credit strength.
S&P devalued the ratings of Associated Banc-Corp and Valley National Bancorp on funding troubles and a higher reliance on brokered deposits.
It also demoted UMB Financial Corp, Comerica Bank, and Keycorp, citing large deposit outflows and prevailing higher interest rates.
A sharp rise in interest costs is weighing on many U.S. banks’ funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp-insured banks will continue to decline as long as the Federal Reserve is “quantitatively tightening.”
The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate exposure, among other factors.
Moody’s had earlier this month cut the ratings of 10 banks by one notch and placed six banking giants, including Bank of New York Mellon, US Bancorp, State Street, and Truist Financial, on review for potential downgrades.
The decline of Silicon Valley Bank and Signature Bank earlier this year sparked a crisis of confidence in the U.S. banking sector. This led to a run on deposits at several regional banks, despite authorities launching emergency measures to shore up confidence.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
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