For example, Hanvit, formed by the merger of two banks, Hanil and Commercial, and now the country's biggest, promised regulators it would this year cut its workforce by 1, 500 more than a tenth and close 100 branches.

ECONOMIST: South Korean banking

In a bold and symbolic move in February, he hired Michael Mayo, a banking analyst with Credit Suisse First Boston who had outraged that firm's investment bankers by knocking the stocks of commercial banks the investment bankers wanted merger and underwriting deals from.

FORBES: The great divorce

In a bold and symbolic move in February, he hired former Credit Suisse First Boston banking analyst Michael Mayo, who had outraged that firm's investment bankers by knocking the stocks of commercial banks from which the investment bankers wanted merger and underwriting deals.

FORBES: The Great Divorce