With the ceiling for Bank executive titles being SVP (outside of Chief level positions), I am noticing several Executives with titles changes to "Managing Director" of late. Merrill Lynch has some Managing Directors traditionally, but the Bank has not traditionally used this title. Has that changed or are these Bank level executives self proclaiming themselves as Managing Directors on business cards and LinkedIn? At one point, there was a target for layoffs based on the proportion of bands (a clear pyramid of scale was the goal). That never was executed to plan as far as I know. I am wondering if the Managing Director title at the Bank level has some sort of strategy. Anyone know?
Thanks