Banking

True to its name, an employee stock ownership plan (ESOP) is a type of employee benefit plan, similar in some ways to a profit-sharing setup. The National Center for Employee Ownership (NCEO) estimates that approximately 14 million workers currently participate in an ESOP, making it the most common form of employee ownership in the U.S.

With changes to tax regulations on the horizon, bank leaders should be thinking about how they are managing financial strategies. It’s likely that you are. Close to 74% of U.S.-based CFOs believe President Trump's principal focus should be corporate tax reform. [1]  And it is. The White House says tax reform is a major piece of their policy agenda.

Bank leaders have been asking this question since Donald Trump surprised the nation by winning the election on November 8.

For years, increasing regulations has been the predominant theme for banks. With this unforeseen national shift, we find ourselves looking at the very real possibility of deregulation—and soon. Case in point, on December 1, the House passed a bill that would eliminate the $50B SIFI threshold, replacing it with more qualitative measures. Although this only impacts a few of the country’s largest banks, it is an encouraging sign of things to come. 

In 1992, the Green Bay Packers starting quarterback suffered an injury. Brett Favre stepped in and the team never missed a beat. Sixteen years later as Favre approached retirement, Aaron Rodgers took the starting position. The team continued a legacy of strong leadership.