The fact that banks have been reshuffling their personnel is, of course, nothing new. However, 122 resignations does seem like a large number, particularly when one realizes that many of these resignations are coming from relatively large institutions.
As a result, there has been much speculation and concern on the part of many observers as to what these shifts actually mean.
While it should be mentioned that the list contains resignations from some institutions that are relatively small in terms of international finance, one might also do well to remember that banks, insurance companies, corporations, and governments are often tied together by a seemingly infinite number of spiderweb connections that only become visible as certain parts of the financial relationships are unearthed.
To be clear, this writer is not suggesting that every single bank included in this list is part of a criminal conspiracy, cover-up, or act of misconduct. In fact, I am not suggesting that any of them are. However, when it comes to some institutions such as the World Bank or the Bank of England, the history of treachery is obvious and should be kept in mind as you draw your own conclusions.
In fact, it is the resignations taking place amidst these larger institutions that should be a cause for greater concern in the first place.
Indeed, the number of resignations taking place amongst large institutions such as CitiBank, Lloyds Banking Group, UBS, Bank of America, Goldman Sachs, and JP Morgan alone should be enough to turn some heads.
But there is also an alarming number of central banks included on this list as well. Perhaps the most surprising is the fact that Phillip Hildebrand, the head of Switzerland’s central bank, recently
handed in his resignation. Not only that, but there have been resignations coming from several other central banks including Argentina, Kuwait, Nicaraqua, and Kenya.
Even the World Bank is now accepting the resignation of Robert Zoellick.
The truth is, we don’t know what these resignations actually mean. Are they merely coincidence? Is this par for the course in the international banking industry?
Or are we witnessing the beginning of a rush for the exits by those who are in a position to see what is coming down the pike? Considering the state of the world financial system, this would not be too hard to believe.
Or are we witnessing a panicked flight of the guilty on the eve of a coming round of real investigations? Might there be a coming worldwide financial scandal that these individuals would drastically like to avoid?
Either way, 122 resignations from September to March at least sounds like a big number. It would be nice to know exactly what the rate of resignation was in previous years. Until we are able to find that number, it might be wise for us to ask ourselves what these individuals know that we don’t.
1.
9/01/11 (USA NY) Bank of New York Mellon Chief
Robert P. Kelly Resigns in a Shake-UP
http://goo.gl/NdW7q
2.
09/20/11 (SCOTLAND) SCOTTISH WIDOWS (RETIREMENT INVESTMENT SAVINGS FUND) There could be no Scottish representative on the board of Lloyds Banking Group, owner of Bank of Scotland, in future after it announced the departure of
Lord Sandy Leitch, the chairman of Scottish Widows and group deputy chairman.
http://goo.gl/Dx8qs
3.
9/25/11 (SWITZERLAND) UBS CEO
Oswald Gruebel quits over £1.5bn rogue trader crisis
http://goo.gl/WCeqB
4.
9/28/11 (SWITZERLAND) SNB Bank Council:
Fritz Studer resigns as per end-April 2012
http://goo.gl/7dNiD
5.
10/29/11 (CHINA) China Construction Bank Corp Chairman
Guo Shuqing resigns
http://goo.gl/fdd9v
6.
10/29/11 (CHINA) Agricultural Bank of China Ltd Chairman
Xiang Junbo resigns
http://goo.gl/yWX9R
8.
11/02/11 (UK) Lloyds Banking Group chief executive,
António Horta-Osório, is to take leave of absence on health grounds for six to eight weeks, the BBC has reported. (STILL OUT AS OF
2/24/12 - DEFACTO RESIGNATION)
http://goo.gl/3L9gE
9.
11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman
Matsui to Resign
http://goo.gl/OiDiq
10.
11/29/11 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorp. and Seneca National Bank
http://goo.gl/XncOc
11.
12/15/11 (UK) Senior private banker
James Fleming resigns from Coutts [private bank]
http://goo.gl/ANN5B
17.
1/01/12 (ISRAEL) Israel's Bank Leumi CEO
Galia Maor steps down after 16 years
http://goo.gl/xwlFt
18.
1/03/12 (USA VA) Suffolk Bancorp president and CEO
J. Gordon Huszagh steps down
http://goo.gl/joExI
19.
1/03/12 (UK) Arbuthnot Banking Group:
Neil Kirton resigned from the Board
http://goo.gl/SKE7j
21.
1/05/12 (UK) Saunderson House [Private Bank] CEO
Nick Fletcher steps down
http://goo.gl/zvo1L
23.
1/19/12 (SPAIN) Spanish bank Santander's Americas chief
Francisco Luzon quits
http://goo.gl/jEY7Y
25.
1/20/12 (JAPAN) Normura's head of wholesale banking
Jasjit Bhattai quits
http://goo.gl/6FuWe
26.
1/21/12 (Greece) Institute of International Finance negotiator
Charles Dallara quits
http://goo.gl/NbPlt
27.
1/21/12 (Greece) Institute of International Finance negotiator
Jean Lemierre quits
http://goo.gl/E3AkE
28.
1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Gov
Alan Bollard to Step Down
http://goo.gl/BwUgv
29.
1/31/12 (SCOTLAND) Royal Bank of Scotland former CEO
Fred Goodwin Stripped of Knighthood
http://goo.gl/CoLVS
30.
2/01/12 (SOUTH AFRICA) ABSA [Barclay's Bank] deputy CEO
Louis von Zeuner resigns
http://goo.gl/IP8nH
33.
2/02/12 (VENEZUELA) Banking Crisis
Arne Chacon arrested for Banking Corruption
http://goo.gl/bb5sh
34.
2/05/12 (USA - NY) Morgan's investment banking chairman
Joseph Perella quit
http://goo.gl/pG2jF
35.
2/05/12 (USA - NY) Morgan Stanley investment banking
Tarek Abdel-Meguid quit
http://goo.gl/bRv9K
37.
2/7/12 (USA) Bank Of America's Mortgage Business Chief
Barbara Desoer Retires
http://goo.gl/i7AUY
39.
2/07/12 (IRAN) Iran denies central bank resignation rumor (don't believe until its denied?)
http://goo.gl/PiQSy
41.
2/9/12 (UKRAINE) National Bank of Ukraine deputy governor
Volodymyr Krotiuk quits
http://goo.gl/8BuXy
44.
2/13/12 (KUWAIT) Kuwait Central Bank CEO
Sheikh Salem Abdulaziz Al Sabbah resigns
http://goo.gl/GFvIy
45.
2/14/12 (NICARAQUA) Nicaraqua Central Bank President
Antenor Rosales resigns
http://goo.gl/iQ0n8
49.
2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO
Bozo Jasovic resigns
http://goo.gl/TyYiJ
50.
2/16/12 (UK) The Financial Services Authority
Margaret Cole is to step down
http://goo.gl/yT6rS
51.
2/16/12 (GHANA) Databank Group Executive Chair
Ken Ofori-Atta steps down
http://goo.gl/c7PtU
52.
2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director
Geoffrey Calvert Quits
http://goo.gl/CtmOU
54.
2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader
Jason Edinburgh Arrested
http://goo.gl/WczHh
55.
2/16/12 (UK) Royal Bank of Scotland director equities bus.
Vincent Walsh director Arrested
http://goo.gl/I7Alo
57.
2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO
Stephen Williams resigns
http://goo.gl/4r16D
59.
2/17/12 (SWITZERLAND) SNB Council President
Hansueli Raggenbass resigns
http://goo.gl/1n1Nr
60.
2/18/12 (PAKISTAN) The Bank of Azad Jammu & Kashmir executive
Zulfiqar Abbasi resigns
http://goo.gl/G0woP
61.
2/20/12 (RUSSIA) Head of Russian Bank Regulator
Gennady Melikyan Steps Down
http://goo.gl/Unuez
64.
2/20/12 (USA WA) First Financial Northwest Director
Spencer Schneider Quits
http://goo.gl/6Dj0i
65.
2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr
Benigno Velez, resigns
http://goo.gl/DuMrm
66.
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director
Abdul Matlub resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
67.
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director
Selima Ahmad resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
68.
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director
Abdul Musabbir Ahmad resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
69.
2/21/12 (BANGLADESH) City General Insurance Co. Ltd director
Geasuddin Ahmad resigns
conflict of interest with director seat on unknown bank
http://goo.gl/aEmwB
70.
2/21/12 (BANGLADESH) Social Islami Bank Limited director
Taslima Akter resigns
conflict of interest with director seat on Eastland Insurance Company Limited
http://goo.gl/aEmwB
71.
2/21/12 (JAPAN) CITIBANK JAPAN: Bakhshi is taking over duties from
Brian Mccappin, who the bank said in December would resign after the unit was banned for two weeks from trading tied to the London and Tokyo interbank offered rates.
http://goo.gl/Z1rnw
72.
2/22/12 (HONG KONG) DZ BANK project finance head
Tim Meaney quits
73.
2/22/12 (USA) Goldman Sachs Hedge Fund Group Chief
Howard Wietschner to Retire
http://goo.gl/x4Zsr
75.
2/23/12 (SCOTLAND) Royal Bank of Scotland Group director
John McFarlane resigns.
http://goo.gl/KoEUI
77.
2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate
Kwang Meng Quek Resigns
http://goo.gl/JIC9A
80.
2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman
Stephen Fitzgerald quits
http://goo.gl/nMTLW
83.
2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief
Michel Péretié Steps Down
http://goo.gl/IJ5Lw
87.
2/27/12 (BAHRAIN) - Mumtalakat Holding [Sovereign Wealth Fund] CEO
Al Zain resigns
http://goo.gl/hhHSm
88.
2/27/12 (IRAN) Bank Melli CEO
Mahmoud Reza Khaavari Resigns -
Flees to Canada! http://goo.gl/DDEUk
92.
2/28/12 (CHINA) Bank of China International ECM global head
Marshall Nicholson quits
http://goo.gl/26MYq
93.
2/28/12 (SINGAPORE) DBS security head
Jim Pasqurell quits, cites health reasons
http://goo.gl/NDJze
94.
2/28/12 (HONG KONG) Bank of America's Asia-Pac. mrkts
Brian Canniffe quits
http://goo.gl/cRkCP
95.
2/28/12 (BELGIUM) KBC's CEO
Jan Vanhevel is to retire after a career spanning 41 years.
http://goo.gl/1rCWd
96.
2/28/12 (CANADA) Ontario Securities Commission chairwoman
Peggy-Anne Brown quits
http://goo.gl/HIYXv
97.
2/28/12 (AUSTRALIA) Bank manager
Colin John Carleton jailed nine years for $3m theft
http://goo.gl/ggPvq
99.
2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND director
Gerald Leissner resigns
http://goo.gl/F0UgN
100.
2/28/12 (ITALY) UNICREDIT: Chairman
Dieter Rampl not available for a new mandate
http://goo.gl/7aLRU
101.
2/28/12 (UK) Bank of England
Sir David Lees re-appointed Chair of Bank of England and gives notice of resignation at end of 2013
http://goo.gl/LkJhV
102.
2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director
Keith Walsh resigns
http://goo.gl/n6uoM
103.
2/29/12 (AUSTRALIA) Perpetual portfolio manager
Matt Williams steps down
http://goo.gl/Jh9jd
105.
3/1/12 (MALAYSIA) RHB Bank Bhd deputy managing director
Renzo Viegas quits
http://goo.gl/wACrI
106.
3/1/12 (ITALY) Italian Banking Association Chairman
Giuseppe Mussari talks to reporters in Rome after he and seven other executives offered to resign in protest over new banking-fee rules included in the government's legislation on boosting competition.
http://goo.gl/3llyT
107.
3/1/12 (USA FL) Florida Venture Forum [Venture Capital] Exec Dir Robin Lester quits
http://goo.gl/nA8g9
108. 3/1/12 (USA) PineBridge Investments said Win Neuger has resigned as chief executive. Neuger helped build AIG's third party asset management business, PineBridge still manages AIG assets
109.
3/1/12 (SINGAPORE) UBS Singapore - James Tulley is leaving Switzerland’s largest bank, it is not clear where he is going.
http://goo.gl/BGugF
111.
3/2/12 (CHINA) China Construction Bank Corp, the assistant general manager and head of corporate banking
Mickey Mehta quits
http://goo.gl/B9dR0
112.
3/2/12 (USA) Deutsche Bank Student Loan CEO
John Hupalo quits to start student loan counseling firm.
http://goo.gl/8kZuc
113.
3/2/12 (UK) Bank of England
Sir Mervin King resigns in June, Lord Sassoon tipped as replacement.
http://goo.gl/ZEUwf
114.
3/2/12 (BOTSWANA) Barclays Bank Botswana managing director
Wilfred Mpai forced to resign
http://goo.gl/npBe2
115.
3/2/12 (HONG KONG) New Century Group Hong Kong Ltd [investment house and leisure group]
Wilson Ng resigns
http://goo.gl/wFSV8
117.
3/3/12 (AUSTRIA) Volksbank AG (VBAG) The contract of CEO
Gerald Wenzel will not be extended
http://goo.gl/w99tD
118.
3/4/12 (KOREA) Hana Financial Group Inc, prominent figure in the history of South Korean finance
Kim Seung-yu , resigns
http://goo.gl/fmNxY
120.
3/5/12 ( SAUDI ARABIA) Al Rajhi Bank CEO
Abdullah bin Sulaiman Al Rajhi has resigned
http://goo.gl/pNx0l
Additional Resignations
Resignations From Government Offices Related to Banking
Brandon Turbeville is an author out of Mullins, South Carolina. He has a Bachelor's Degree from Francis Marion University and is the author of three books, Codex Alimentarius -- The End of Health Freedom, 7 Real Conspiracies, and Five Sense Solutions. Turbeville has published over one hundred articles dealing with a wide variety of subjects including health, economics, government corruption, and civil liberties. Brandon Turbeville is available for podcast, radio, and TV interviews. Please contact us at activistpost (at) gmail.com.
http://www.activistpost.com/2012/03/do-mass-banking-resignations-si...
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