Paul Perrault is new the CEO of Sovereign Bancorp Inc.. Paul Perrault will take on CEO of Sovereign, a Philadelphia-based bank, starting in 2009 with Kirk Walters taking over chief executive functions for now from Joseph Campanelli. Shares of Sovereign have been down nearly 80%. But earlier this month, the bank sold off collateralized debt obligations. Some analysts see this a great news today with the Perrault announcement. Trading of Sovereign shares were reportedly up sharply for Sovereign in pre market activity.
Finally some good new this week in the credit crisis.
Source : Newslalate
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