Thinking about and developing your bank’s succession plan is paramount. This guide covers what your bank should do to prepare for succession planning and a variety of considerations to be aware of when approaching the process. Compensation is a critical component of succession planning that should always be at the forefront, so we’ve taken compensation concerns into account throughout the guide.
Topics we explore in the guide include:
- Determining which committee is responsible for succession planning
- Ensuring your succession plans align with your bank’s goals
- Nurturing front runners who can replace previous leaders