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U.S. lenders led by tenured, deeply connected and influential chief executives have proven more likely to become embroiled in illicit finance over the past two decades than their more weakly led peers, and thus warrant enhanced regulatory scrutiny, a trio of U.K. analysts has found. A review of 85 enforcement actions U.S. regulators imposed against 50 publicly listed banks from 2004 to 2015 indicates that strong, independent boards of directors do not fully mitigate the negative impact of strong CEOs, Yurtsev Uymaz and John Thornton of the University of East Anglia, and Yener Altunbas of Bangor University, concluded in a...