I understand the rationale for the new titles as back in a previous life I worked for one of American banks that Keating gave banking licenses to.
The bank had the same title system of VP's but also had EVP's (E being executive) with EVP's being more senior than VP's, so watch out for this DrT
Anyway it makes sense, and besides a more impressive title can often be a good substitute for a pay rise ( but only temporarily )
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