So last summer when State Street Bank offered employees attractive buyouts to thin its ranks, Snow -- vice chairman of State Street Global Advisors -- accepted.

"It was generous, and I was in a sweet spot in terms of seniority and tenure," he explains. "Ultimately, I had to consider what was right for me and my family."

Apparently, a lot of State Streeters were thinking along the same lines. Although the bank had expected the buyout program to eliminate 1,800 jobs, 3,100 employees -- including many senior executives -- wound up bidding it a golden good-bye.

For a new retiree, Snow has been anything but idle. He recently joined the board of MilleniumAssociates, a Zurich-based boutique investment bank specializing in the financial services industry.

"I have known [Millenium founder] Ray Soudah a long time, and I felt I could contribute to the business," says Snow. At State Street he helped to build and run a group of niche asset managers known as State Street Global Alliance. He may have a few more sweet deals left in him.