It's as much a response to regulatory stuff as it is a marketing and perception thing.
All these banks over the years were faced with rules either from their insurers and/or government to the tune of "you must have a process to control X" and they say, "well, ugh, I guess only VPs can do that" and then as they grew and merged and were acquired by each other it pushed the VP title way down the org chart.
All these banks over the years were faced with rules either from their insurers and/or government to the tune of "you must have a process to control X" and they say, "well, ugh, I guess only VPs can do that" and then as they grew and merged and were acquired by each other it pushed the VP title way down the org chart.