In traditional companies, VP is higher than Director. In banks, it's different. VP is a middling level and not necessarily managerial, while Managing Director

In traditional companies, VP is higher than Director. In banks, it's different. VP is a middling level and not necessarily managerial, while Managing Director is usually the highest. I think the idea is that VP is equivalent to VP in a regular company, while MD is comparable to a C-level title, but because banks can't have as many C*O's as they have Managing Directors, they use a different title. Whether the rest of the world agrees with the banks on this title-equivalence is open for debate.