(Reuters) A shareholder of First NBC Bank Holding Co has called for the chief executive officer’s removal, saying a change at the top would give more confidence to the New Orleans lender’s investors.
Activist hedge fund Clinton Group, which has not disclosed the size of its holding in the small bank, first began agitating for changes early this month. Clinton’s second letter to the board, disclosed on Tuesday, is the first time the hedge fund has called for the removal of President and CEO Ashton Ryan.