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Local bank drops risky business, reduces workforce - The Galveston County Daily News : Biz Buzz / Buzz Blog

December 19, 2014

Local bank drops risky business, reduces workforce

Posted: Thursday, October 3, 2013 12:00 am | Updated: 10:14 am, Thu Oct 3, 2013.

Bank notes: Readers are buzzing about staff reductions and pension changes at Moody National Bank

Vic Pierson, president of island-based Moody National, confirmed that 14 people were let go last week at the bank’s corporate offices in the island’s downtown. The staff reduction came after the bank made a strategic decision to significantly reduce the number of accounts it handles for money-services businesses and other high-risk deposits. 

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