Certain functions in a bank (any bank) require sign-off from a person who is an officer of the bank. That is usually equivalent having the words "Vice Presiden

Certain functions in a bank (any bank) require sign-off from a person who is an officer of the bank. That is usually equivalent having the words "Vice President" in their title. The result is that, to get anything done, a large fraction of the staff are VPs, and many VPs do not have any direct reports.