G. Kennedy Thompson, Date of Birth, Place of Birth

    

G. Kennedy Thompson

American banker

Date of Birth: 25-Nov-1950

Place of Birth: Rocky Mount, North Carolina, United States

Profession: businessperson, banker

Nationality: United States

Zodiac Sign: Sagittarius


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About G. Kennedy Thompson

  • G.
  • Kennedy "Ken" Thompson (born November 25, 1950) is an American businessman who was previously chairman, president, and CEO of Wachovia Corporation, formerly First Union Corporation, from 2000 through 2008.
  • First Union Corporation acquired Wachovia Corporation and changed its name to Wachovia in September 2001 after fending off a hostile takeover attempt by SunTrust Bank.
  • Thompson succeeded Edward E.
  • Crutchfield in 2000, who stepped down due to health reasons.
  • Previous positions at First Union included vice chairman of the corporation and head of Global Capital Markets; president, First Union-Florida; senior vice president and head of First Union Human Resources; president, First Union Georgia. Thompson previously served as president of the Federal Reserve Board's Federal Advisory Committee.Thompson serves on the Boards of Directors Florida Rock Industries, Inc., (NYSE) and Atrium Health.
  • Professional affiliations include Board member, Financial Services Roundtable; vice chairman and board member, New York Clearing House; member, Financial Services Forum, The Business Council.
  • Following his very narrow re-election with 55% of the shareholder vote, it was announced in April 2013 that Thompson would step down from the Hewlett-Packard (HP) board.
  • Highly engaged in community work, Thompson's involvement includes being a member of the board of trustees, Wake Forest University; board member, Teach For America, North Carolina Blumenthal Performing Arts Center, Charlotte Latin School, YMCA Metropolitan board, United Way of Central Carolinas, Inc.
  • (2003 Board Chairman), Charlotte Institute for Technology Innovation (Charlotte Institute) and co-chair, Advantage Carolina. Thompson was born in Rocky Mount, North Carolina.
  • He holds a B.A.
  • in American Studies, University of North Carolina at Chapel Hill, where he was a Morehead Scholar, and an M.B.A, Wake Forest University.
  • In 2006, under Thompson's leadership, Wachovia acquired GoldenWest for approximately $26 billion, at the peak of the real estate market.
  • In 2010, Wachovia settled out of court a case in which it allegedly laundered over $378 billion in cash and traveler's checks from Mexican drug cartels in the years 2004 - 2006, during Thompson's tenure as CEO.
  • Terms of the settlement included a $110 million forfeiture and a $50 million fine.
  • Thompson was pushed out of Wachovia Bank (WB) on June 2, 2008, as head of the nation’s fourth-largest bank, becoming the latest financial services executive to be ousted amid turmoil in the U.S.
  • housing market.
  • Thompson will not receive any incentive pay for the 2008 fiscal year, but according to a filing with the 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.

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