Posted By: Susoni
Date: Monday, 20-Feb-2012 12:07:51
It appears that all the rats are being cleaned out of the banks. One wonders if it is to escape angry citizens or because they are being ferried off to some underground bunker? Add to this list Germany's President. .. Netanyahu's Bureau chief - Natan Eschel ..... Las Vegas State Senator Elizabeth Halseth ... and more.
Romanian prime minister and cabinet resign en masse
Global bank resignations
Resignations Global Banks ....
1 World Bank CEO Zoellick resigns
2 Anz Bank CFO Australia resigns
3 Nicaraqua Central Bank Pres Rosales resigns
4 Credit Suisse Chief Joseph Tan resigns
5 GERMAN PRESIDENT Christian Ruff resigns
6 Royal Bank of Scotland Austrailin CEO Stephen Williams resigns
7 Kuwait Central Bank CEO resigns
8 Slovenia TWO largest Banks CEO's (2) resign
9 Bank of India CEO Chaturvedi resigns
10 Tamilnad Mercantile Bank CEO resigns
11 GOLDMAN SACHS CEO Blankenfein to resign (Nothing printed on this yet UNLESS this JUST happened. Last article said he is not stepping down in 2011).
N.C. banking official resigns
13. Switzerland's central bank chief resigns
Mass Resignation of the Proxies: Why Are So Many Key Financial Figures Waiving the White Flag?
(some are repeats on this list)
Here are the recent resignations in chronological order:
February 6, 2012: Dhanlaxmi Bank CEO Amitabh Chaturvedi quits: http://www.livemint.com/2012/02/06160111/Dhanlaxmi-Bank-CEO-Amitabh-Cha.html
February 10, 2012: Tamilnad Mercantile Bank MD resigns: http://www.business-standard.com/india/news/tamilnad-mercantile-bank-md-resigns/464259/
February 13, 2012: Kuwait central bank chief resigns amid political tensions: http://www.washingtonpost.com/business/industries/kuwait-central-bank-chief-resigns-amid-political-tensions/2012/02/13/gIQAcxrOAR_story.html
February 14, 2012: Nicaragua’s Central Bank President Antenor Rosales quit admist row:http://www.bloomberg.com/news/2012-02-14/nicaragua-central-bank-head-quits-amid-row.html
February 15, 2012: Slovenia’s Two Biggest Banks’ CEOs Step Down: http://www.bloomberg.com/news/2012-02-15/slovenia-s-nova-kreditna-banka-maribor-ceo-plos-resigns.html
February 15, 2012: World Bank President Zoellick Resigns: http://business.time.com/2012/02/15/world-bank-president-zoellick-resigns/
February 16, 2012: CFO of ANZ Bank Resigns Amid Turmoil: http://www.proformative.com/news/1470243/cfo-anz-bank-resigns-amid-turmoil
February 16, 2012: Royal Bank of Scotland’s Stephen Williams quits the role: http://www.theaustralian.com.au/business/wall-street-journal/andrew-chick-to-lead-royal-bank-of-scotlands-australian-arm/story-fnay3vxj-1226272513981
February 17, 2012: Credit Suisse’s Private Bank Chief Asian Economist Tan Resigns:http://www.businessweek.com/news/2012-02-17/credit-suisse-s-private-bank-chief-asian-economist-tan-resigns.html
That’s 9 resignations in then eleven days, we have not included the other resignations from the likes of the head of the central bank in Switzerland a month ago, and the talk of the head of Goldman Sachs leaving. Why are the heads of very large financial instutitions resigning? Corporate governance experts would say that people resign to make room for new policies, and way of doing things, but this is a peculiar situation of contagion amongst those with key exposure.
The first to see the flame, usually leave the building, maybe this is not the case, nonetheless, such events with obvious patterns should be taken note of.