MASSIVE Wave of Banker CEO/CFO Resignations

Peaking in February, the mass exodus is now approaching 100.

A wave of resignations has led much speculation about the inner workings of the world’s financial institutions. Starting in September of last year, the wave of 91 resignations spiked in February, with 66 resignations in that month alone.  The resignations are quite significant because of their executive standing in the institutions., some even as high as the resignation of the CEO of the World Bank.

Only time will tell what is in store.

Below is the list of resignations. ATR News will keep a close watch on this story and will bring updates as they come in.


September/01/11 (USA NY) Bank of New York Mellon Chief Resigns in a Shake-UP

September/20, 12 (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.

September/25, 11 (SWITZERLAND) Bank chief resigns over £1.5bn rogue trader crisis

September/28, 11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per end-April 2012

October/29, 11 (CHINA) Resignations Suggest Shift for China’s Banks

November/01, 12 (INDIA) More directors of the Beed district bank resign

November/02, 12 (UNITED KINGDOM) 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)

November/21, 11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign

November/29, 11 (Iran) Iran’s Bank Melli CEO Resigns Over Loan Scam

December/15, 11 (UNITED KINGDOM) Senior private banker resigns from Coutts [a very exclusive private bank]

December/22, 11 (FRANCE) Societe Generale’s Investment Banking Chief Steps Down

December/23, 11 (USA VA) Bank feud: Chairman Giles quits VNB with other directors

January/01, 12 (NIGERIA) The Board of United Bank for Africa Plc, the pan African financial services Group with presence in 19 countries across Africa, has accepted the resignation of Mr. Victor Osadolor, from the board with effect from January 9, 2012.

January/01, 12 (ISRAEL) Israel’s Bank Leumi CEO Maor steps down after 16 years

January/03, 12 (USA VA) Suffolk Bancorp president and CEO steps down

January/03, 12 (UNITED KINGDOM) Departures from Board at Arbuthnot Banking Group: Neil Kirton
Shortly before the market closed at 12.30 p.m. on Friday the company disclosed that Neil Kirton had resigned from the Board the previous day.

January/03, 12 (UNITED KINGDOM) Departures from Board at Arbuthnot Banking Group: Atholl Turrell
It has today stated that Atholl Turrell has left the Board.

January/05, 12 (UNITED KINGDOM) Chief executive of Saunderson House [Private Bank] steps down

January/09, 12 (SWITZERLAND) Switzerland’s central bank chief resigns

January/12, 12 (United Kingdom) Lloyds’ head of wholesale quits

January/19, 12 (SPAIN) Spanish bank Santander’s Americas chief quits

January/30, 12 (UNITED KINGDOM) Head Of UK Private Bank Steps Down [Butterfield Private Bank]

January/20, 12 (JAPAN) Normura’s head of wholesale banking quits

January/29, 12 (NEW ZEALAND) New Zealand Reserve Bank Governor Alan Bollard to Step Down in September

January/21, 12 (Greece) Banks’ top negotiator quits Greece, but talks go on

February /01, 12 (SOUTH AFRICA) ABSA falls as deputy CEO steps down [UK Barclay’s Bank Controlled]

February/01, 12 (UNITED KINGDOM) Truett Tate – Lloyds Bankging Group head of wholesale quits

February/01, 12 (UNITED KINGDOM) Tim TOokey – Llyods Banking Group leaving end of February having served as interim group chief executive in addition to group finance director

“Mr Tookey, who has been with the group since 2006, will leave at the end of February after preparing the bank’s accounts for 2011. He will not get a pay-off.”

Warning as last Scot leaves Lloyds board Lloyds could lack Scottish voice


February/02, 12 (VENEZUELA) Key Chavez Minister Resigns Amid Banking Corruption Fallout

February/05, 12 (USA – NY) Two Top Morgan Stanley Bankers Resign

February/06, 12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits

February/7, 12 (USA) Bank Of America’s Mortgage Business Chief Resigns

February/07, 12 (INDIA) Falguni Nayar quits Kotak Mahindra Bank

February/07, 12 (IRAN) Iran denies central bank resignation rumor (don’t believe until its denied?)

February/09, 12 (VATICAN) Four Priests Charged In Vatican Banking Scandal

February/10, 12 (KOREA) Korea Exchange Bank chief steps down

February/10, 12 (INDIA) Tamilnad Mercantile Bank CEO resigns

February/13, 12 (KUWAIT) Kuwait Central Bank CEO resigns

February/14, 12 (NICARAQUA) Nicaraqua Central Bank Pres Rosales resigns

February/14, 12 (UNITED KINGDOM) Social finance pioneer Hayday steps down from Charity Bank

February/14, 12 (UKRAINE) The National Bank of Ukraine issued a short statement on Thursday announcing the resignation of deputy governor Volodymyr Krotiuk.

February/15, 12 (WORLD) World Bank CEO Zoellick resigns

February/15, 12 (SLOVENIA) Slovenia TWO largest Banks CEO’s (2) resign

February/15, 12 (KENYA) Governor of Kenyan Central Bank to Resign

February/16, 12 (UNITED KINGDOM) The Financial Services Authority’s (FSA’s) interim managing director, Conduct Business Unit, Margaret Cole, is to step down later this year.
FSA is the regulator of all providers of financial services in the UK; Bank of England retains
responsibility for systemic risk.

February/16, 12 (GHANA) Ken Ofori-Atta steps down as Executive Chair of Databank Group

February/16, 12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Quits

February/16, 12 (AUSTRALIA) Anz Bank CFO Australia resigns

February/16, 12 (UNITED KINGDOM) Royal Bank of Scotland Bankers Arrested

February/16, 12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns

February/17, 12 (USA) Blankfein out as Goldman Sachs CEO by summer

February/17, 12 (SWITZERLAND) SNB Council President Hansueli Raggenbass To Leave Central Bank

February/18, 12 (PAKISTAN) AJK Bank’s executive steps down

February/20, 12 (RUSSIA) Head of Russian Bank Regulator Steps Down

February/20, 12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns

February/20, 12 (ISRAEL) Bank Leumi le-Israel Ltd. : Mr. Zvi Itskovitch Announces his Decision to Redesign From Bank Leumi

February/20, 12 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorporation, Inc. and Seneca National Bank

February/20, 12 (USA WA) First Financial Northwest Director Quits in Candy Austerity Push[shades of the movie The Caine Mutiny?] First Financial Northwest Inc., a Renton, Washington-based lender, said director Spencer Schneider resigned after asking the bank to remove pictures of past directors and serve only hard candies at annual meetings.Schneider made the requests at a Feb. 15 board meeting as “symbols of austerity,” and also asked that the bank suspend serving refreshments at the annual shareholders’ meeting, offering just hard candies instead, he said. Schneider, general counsel for shareholder Joseph Stilwell, resigned immediately when the company asked that his requests be placed on the agenda for a board meeting next month, the bank said yesterday.

February/21, 12 (ARGENTINA) The general manager of the Central Bank of Argentina (BCRA), Benigno Velez, resigned his position today.

February/21, 12 (BANGLADESH) Five bank, insurance directors resign

February/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.

February/22, 12 (USA) Wietschner, Goldman Hedge Fund Advisory Chief, Retires

February/23, 12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank

February/23, 12 (SCOTLAND) Royal Bank of Scotland Group has announced that John McFarlane will step down as a Non-executive Director on 31 March 2012, as a regulatory condition of his impending appointment at Aviva.

February/24, 12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns, may start up law firm

February/24, 12 (HONG KONG) Citigroup Private Bank’s Co-Head of Global Real Estate Resigns

(Bloomberg) — Kwang Meng Quek, co-head of the global real estate group at Citigroup Inc.’s private banking unit, resigned.

February/24, 12 (NEW ZEALAND) FSF Executive Director resigns
After two years leading the Financial Services Federation (“FSF”) executive director, Kirk Hope has resigned to take up the role of chief executive of the New Zealand Bankers? Association.

February/24, 12 (USA) Evercore’s Mestre steps down as U.S. banking head
(Reuters) – Eduardo Mestre has stepped down as day-to-day head of Evercore Partners Inc’s U.S. investment banking business, the New York-based company said in a regulatory filing.

February/25, 12 (AUSTRALIA AND NEW ZEALAND) Goldman Sachs: Fitz quits
Stephen Fitzgerald has resigned as Australia and New Zealand chairman and advisory director at Goldman Sachs, after 20 years with the bank. His departure comes less than a year after Goldman took full control of its Australian joint venture, formerly known as Goldman Sachs JBWere.

February/27, 12 (GERMANY) Deutsche Bank Americas chief steps down

February/27, 12 (BAHRAIN) Ebrahim Ebrahim quits as CEO of Khaleeji Commercial Bank

February/27, 12 (FRANCE) Societe Generale’s Investment Banking Chief Steps Down

February/27, 12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns

February/27, 12 (JAPAN) Nomura’s Head Of Wholesale Banking Quits

February/27, 12 (INDIA) Falguni Nayar Quits Kotak Mahindra Bank

February/27, 12 (GERMANY) Equiduct chairman steps down

February/27, 12 (BAHRAIN) Al Zain steps down as Mumtalakat Holding CEO
The board of directors of Bahrain Mumtalakat Holding Company (Mumtalakat),Bahrain’s Sovereign Wealth Fund, has accepted the resignation of the Chief Executive Officer, Talal Al Zain, following the completion of a four year term as head of the investment arm for non-oil and gas assets of the Kingdom of Bahrain.

February/27, 12 (IRAN) Iran’s Bank Melli CEO Resigns Over Loan Scam (has fled to Canada)

February/27, 12 (INDIA/KASHMIR) AJK Bank’s Executive Steps Down

February/27, 12 (UNITED KINGDOM) Moreno to step down at Lloyds Banking Group
Lloyds Banking Group has announced that Glen Moreno, its senior independent director, intends not to seek re-election at the bank’s annual general meeting on 17th May, and will retire from the board on that date.

February/28, 12 (HONG KONG) Leung `to enjoy life’ as she calls it quits

February/28, 12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits

February/28, 12 (SINGAPORE) DBS security head Jim Pasqurellquits, cites health reasons

February/28, 12 (HONG KONG) Bank of America’s Asia-Pac. mrkts Brian Canniffe quits 

February/28, 12 (BELGIUM) KBC’s CEO Jan Vanhevel is to retire after a career spanning 41 years.

February/28, 12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits

February/28, 12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft

February/28, 12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires

February 28, 12 (SOUTH AFRICA) REDEFINE INCOME FUND director Gerald Leissner resigns

February 29, 12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps down

February 29, 12 (UK) Honister Capital CEO Richard Pearson steps down

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