Turkey’s banking regulator has drawn up a plan to restrict the tenures of banking executives, a proposal that comes after high-profile accusations of a ponzi scheme at a bank with one of the nation’s longest-serving chief executive officers.
According to the proposal, CEOs would be permitted to serve in that position at the same bank for at most 10 years, according to a draft of the regulation seen by Bloomberg. Deputy general managers would also be allowed up to 10 years, but that could be extended for as much as 5 years with approval from regulators. The number of deputy ...