EYECATCHERS: Crocker's New Asset

Emmett G. Solomon, the courtly 64-year-old chairman of San Francisco's Crocker Bank, presented his board with a hand-picked successor last August. Not surprisingly, the candidate was Lester Peacock, 43, the bank's president and a fellow traditionalist, who seemed particularly interested in bankerly decorum. Peacock once remarked to his associates: "No gentleman ever wears brown shoes." The bank's board turned Peacock down flat because Crocker's pin-stripe conservatism had simply not been paying off. While more innovative, bolder California banks were gaining ground, the earnings of Crocker, the nation's 14th largest bank, were declining....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!