The Bank of Lee P
Matt Bramanti alerted us to this news about former Mayor Lee P. Brown this morning:
Former Houston Mayor Lee Brown is part of an investment group that has acquired a substantial interest in Unity National Bank, and the former city leader has been named chairman of the board.Brown and Dr. Kase Lawal lead the business group that applied last July to acquire a significant stake in the Houston-based bank. The U.S. Office of Comptroller of the Currency has authorized a change in control from the previous owners to Kase.
The announcement Monday was the first of several changes expected at Unity National, including restructuring of the management team, making new financial products available and increasing the number of bank branches.
Do you think one of the changes will be tracking down that towering sign of Lee P. that used to greet airport visitors, and putting the thing in the front of the bank?
It's stunning that Mayor Brown could oversee so many messes -- the massively underfunded municipal employees pension plan, HPD's manpower shortage not to mention the crime lab, and corruption that involved Brown appointees peddling city contracts -- and still wind up as chairman of the board of a bank!
I suspected Bramanti was just spoofing me earlier until I tracked down the HBJ article. There are some good quotes from the article Bramanti passed along:
"I am honored by my selection as the new bank chairman and I would like to thank Limas Jefferson for his years of service and commitment to growing Unity National Bank as a financial institution in Houston," Dr. Lee P. Brown said. "I also look forward to working with the Unity board and the senior management team on our new strategic goals of becoming the financial partner of choice customers and business owners can rely upon for all of their banking needs."
Limas Jefferson added, "This is an exciting time in the history of this institution, and the change of control is a signal of a great new beginning. It is indeed an honor and a privilege to have an opportunity to work with such distinguished individuals as Dr. Lee P. Brown and Dr. Kase Lawal. They have brought energy, leadership, and capital to a great institution and are to be commended for such dedicated service to our city and nation."
I'd advise anyone with money at Unity Bank to get it out of there QUICKLY.
Posted by Kevin Whited @ 01/11/06 10:10 PM | Print |
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