Perrault at Sovereign Bank (2009)
Paul Perrault was appointed CEO of Sovereign Bank in early 2009. A month later, Spanish lender Banco Santander acquired Sovereign and Perrault was removed.
The one-month tenure ended abruptly with the acquisition.
It underscored how quickly banking leadership can turn over when ownership changes.
For Perrault, retirement on his own terms closes a career that once ended in a month. For Gray, it is a reminder that a bank CEO's tenure now rests on quarterly results.
