Massive Wave Of Resignation (Part IV): It's Not Slowing Down!

Please mods, do not delete this list. Some of the links have been reworked as they were broken in the original article

Hey ATS

Here comes the fourth on the massive wave of resignation that is now occuring since February started. We are now at 116 resignations, and there is no end in sight.

First 3 updates can be read here:
Massive Wave Of Resignation From Top Level Bankers. The Elite Are Loosing Their Grip or/and SHTF

Massive Wave Of Resignations: More Fuel To The Fire, Arrests And Forced Resignations In Full Effect

Massive Wave Of Resignation (Part III): Momentum Building Up, Eleven Bankers Resign Today (Feb 27th)


So here is the list, from AmericanKabuki.com. Please know that the list has been edited many times by it's write so that only official resignations would show. Since our last update, we have seen 24 new major resignations in just 6 days.

Here are the 24 new resignations. I have edited all links and fixed the broken ones, and added relevant parts of the articles so you don't really need to click on the links...other than for personal confirmation:

Unfortunetly, I will have to split this thread in three parts due excess of characters

2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits

Five years after his stint at the Bank of China International (BOCI), the investment banking unit of Bank of China, Marshall Nicholson, the bank’s managing director and global head of equity capital markets, has resigned from his post.

2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites health reasons

Separately, DBS said its managing director of compliance services and security, Jim Pasqurell, has tendered his resignation due to health issues but added that ongoing investigations will not be hampered by his departure.

2/28/12 (HONG KONG)Ba nk of America's Asia-Pac. mrkts Brian Canniffe quits

Bank of America Corp's head of global markets financing and futures in Asia-Pacific, Brian Canniffe, has quit, two sources with direct knowledge of the matter told Reuters. The Wall Street bank has replaced Canniffe with Richard Boseley, head of Asia-Pacific equity sales, who has assumed the additional responsibility, the sources said.

2/28/12 (BELGIUM) KBC's CEO Jan Vanhevel is to retire after a career spanning 41 years.

Jan Vanhevel, President of the Executive Committee and CEO of the KBC group, has expressed his desire to retire from KBC, with effect from the annual general meeting of 3 May 2012. At that time, he will have spent his entire career of nearly 41 years with KBC, sixteen as a member of KBC's Executive Committee.

He will be succeeded by Johan Thijs, currently CEO of KBC's Belgium Business Unit, where he has successfully led KBC's activities in its largest market through turbulent times.

2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits

But OBSI’s outgoing chairwoman Peggy-Anne Brown warned last week that TD’s abrupt exit jeopardizes the ombudsman’s ability to do its work. The departure of TD, the country’s second-largest bank, forced a cut in the agency’s 2012 budget.

2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft

A NORTH Queensland bank manager has been sentenced to nine years' jail for stealing $3 million from his customers to feed his gambling and shopping addictions.

2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires

Commercial Bank of Ceylon PLC announced that its Chairman Mahendra Amarasuriya would resign from the office of Chairman and as a member of the Board of Directors today, December 30. The bank said in a stock exchange filing yesterday (29) the resignation was for personal reasons, "notwithstanding the Appeal Court Interim order making it legally possible for him to continue as a Director of Commercial Bank beyond December 31, 2011.

2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND director Gerald Leissner resigns

Redefine unitholders are advised that Gerald Leissner a non-executive director has resigned from the board of Redefine with effect from 22 February 2012, due to his time commitments and involvement with Arrowhead Properties Limited.

2/28/12 (ITALY) UNICREDIT: Chairman Dieter Rampl not available for a new mandate

UniCredit announces that on February 28th, 2012 Chairman Dieter Rampl informed the Board of Directors of his decision not to be available for a further mandate.

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

Her Majesty The Queen has approved the Chancellor and Prime Minister’s recommendation for the re-appointment of Sir David Lees as Chair of the Court of the Bank of England. Sir David has indicated he will step down from Court at the end of 2013, once he has overseen the transition of the Bank’s new responsibilities and personnel.

2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director Keith Walsh resigns

The Directors of the Fund wish to announce the resignation of Mr Keith Walsh as a Director to the Fund with effect from 29 April, 2011. This change was not previously notified to the Irish Stock Exchange due to an administrative oversight.

2/29/12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps down

Perpetual head of equities Matt Williams will step down as senior portfolio manager of the $5.8-billion Industrial Share Fund, of which he managed 50 per cent.

2/29/12 (UK) Honister Capital CEO Richard Pearson steps down

Pearson will step down at the end of March to pursue other opportunities in the financial services industry. He joined The Money Portal in 2004 and was appointed chief operating officer when TMP became Honister Capital in July 2009. Pearson was appointed chief executive in April last year when Mark Lund left the firm.

3/1/12 (MALAYSIA) RHB Bank Bhd deputy managing director Renzo Viegas quits

Renzo Viegas, the deputy managing director of RHB Bank Bhd, is calling it a day at RHB. His resignation is effective March 23, according to sources.

3/1/12 (ITALY) Italian Bank Association Heads Offer to Resign

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.

3/1/12 (USA) Florida Venture Forum (Venture Capital) Exec Dir Robin Lester quits

The Florida Venture Forum announced today that Robin Lester resigned after serving nine years as its Executive Director.

3/1/12 (USA) PineBridge's Neuger To Step Down As CEO But Remain Vice Chairman

Global investment manager PineBridge Investments said Win Neuger has resigned as chief executive, effective Thursday, but will stay on as vice chairman, working with sales and distribution teams to manage client relationships.

3/1/12 (MALAYSIA) Elaf Bank chief executive Dr Jamil El Jaroudi will leave the bank

Elaf Bank chief executive Dr Jamil El Jaroudi will leave the bank at the end of this month to pursue other opportunities. Dr El Jaroudi has been running Elaf Bank, a wholesale Islamic bank headquartered in Bahrain, with an office in Malaysia, since its inception in 2007.

3/1/12 (USA) Piscataqua Savings Bank CEO Jay Gibson retires

Jay Gibson, President/CEO of Piscataqua Savings Bank, is preparing for retirement. Gibson will officially step down in May to be succeeded by current Executive VP/Senior Loan Officer Rick Wallis. Gibson has served in numerous capacities at the Bank since he graduated from UNH in 1972, serving as President/CEO for the past 12 of his 40-year tenure. Wallis has been with the Bank for 30 years, also since graduating from UNH. This succession celebrates a long-standing tradition of promoting from within.

3/2/12 (CHINA) China Construction Bank Corp, the assistant general manager and head of corporate banking Mickey Mehta quits

Mickey Mehta, the assistant general manager and head of corporate banking and structured finance at China Construction Bank Corp. (939)’s Hong Kong unit, said he has left the lender to start a private equity firm.

Mehta, who was also a managing director of China Construction Bank International Finance Ltd., the bank’s funding arm, said he is no longer working at the lender when contacted on his mobile phone in Hong Kong today.

3/2/12 (USA) Deutsche Bank Student Loan CEO John Hupalo quits to start student loan counseling firm.

John Hupalo, who spent the past two years trying to revive Deutsche Bank’s student-loan bond underwriting business, has moved on. Hupalo left the bank in February to start a firm that will offer counseling to students and recent graduates who need help obtaining loans and managing their finances. He calls the Boston operation Invite Education.

3/2/12 (UK) Bank of England Sir Mervin King resigns in June, Lord Sassoon tipped as replacement.

Lord Sassoon has emerged as a potential successor to Sir Mervyn King when he steps down as Governor of the Bank of England in June next year.

3/2/12 (BOTSWANA) Barclays Bank Botswana managing director Wilfred Mpai forced to resign

According to staff they received the information late in the afternoon yesterday through work email. In a two-line statement the bank informed its staff that their boss had left the company with immediate effect and was replaced by Aupa Monyatsi, chief operations officer. The bank has been dominating newspaper headlines recently in connection with a dispute it has with Botswana Bankers Union (BOBEU). The dispute emanated from a restructuring exercise that the bank carried out, over which unions decried the programme for its lack of consultation.

3/2/12 (HONG KONG) New Century Group Hong Kong Ltd (investment house and leisure group) Wilson Ng resigns

New Century Group Hong Kong Ltd. announced that Mr. Wilson Ng has resigned as the Chairman and an Executive Director of the Company with effect from March 2, 2012 due to his decision to devote more time to his personal endeavours. Subsequent to the resignation of Mr. Wilson Ng, Mr. Ng Wee Keat (Mr. Ng) was re-designated from the Chief Executive Officer to the Chairman of the Company and remained as an executive director of the Company.

3/2/12 (USA) Citigroup Richard Parsons to step down as chairman

Richard Parsons, who was named chairman of Citigroup in 2009 just after the bank accepted $45 billion in federal bailouts, will step down from the position, the bank said Friday. The bank said Michael O'Neill, a Citi board member and the former CEO of Bank of Hawaii Corp., was expected to succeed Parsons. The Citi board will elect a chairman at the bank's annual shareholder meeting in April.

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So here we go, 24 new resignations and 2-3 arrests. Some people have suggested in older updates that this may be a yearly occurance, where the bankers quit once they receive their bonus. It does seem to make sense in some of the above cases, however, we are seeing a lot of bankers quitting because of scandals, corruption or undisclosed reasons.

I still believe some of these bankers are either leaving a sinking ship (would make sense with the state of our economy), especially those big CEO's who have been ruling the game for decades, though it is evident that some of these resignations are perfectly "normal".

A total of 26 CEO's have resigned, 4 are from central banks. There are some pending resignations that have not been added to the list, such as the CEO of Uganda's and Kenya's central banks. If they both resign, 6 CEO's of central banks will have resigned in the course of 3 weeks. Isn't that a bit unlikely?

So here I am once again, asking for your opinion. For those who have said this could be due to the bonuses, when do you expect this to end?

I do not have the Benjamin Fulford report yet, so I will post it as a comment once it is published somewhere tomorrow.

I will probably post another update if the phenomenon keeps happening.

EDIT: Also, could the soon to be effective Basel III measures be scaring some bankers away? Basel III are measures that will greatly improve transparency in the banking world, and A LOT of big bankers were opposed to it's implementation. Unfortunetly for them, it will be effective starting next year I think. This year is a "test year", according to official statements.

reply to post by Gab1159


My BIG question would be, if they are retiring (the ones that are anyway or stepping down), where are they retiring to? Might be an idea to buy some land wherever that might be LOL. Bush bought 100k acres in Paraguay?

Cheers - Dave

On the surface, it looks like another GFC is coming. And when the trouble begins, it will be someone else's problem if you've jumped ship beforehand.
I work for a Bank here in Australia, and there's been A LOT of departments being made redundant, and jobs being sent overseas.
The central bankers quitting has sent a few alarm bells ringing. Hopefully things will become clearer as the months pass.

Originally posted by bobs_uruncle
reply to post by Gab1159

 

My BIG question would be, if they are retiring (the ones that are anyway or stepping down), where are they retiring to? Might be an idea to buy some land wherever that might be LOL. Bush bought 100k acres in Paraguay?

Cheers - Dave

And I believe James Cameron bought 100 acres of farmland in NZ

thanks for the update, glad i was online to see it fresh on the new topics
ive been following these resignations fairly closely and have been sharing with my peers
very interesting facts... i can only wonder and imagine what is to come and if there is a cause

i do remember a post mentioning the fiscal year was ending which could be an explanation
but this still seems far out of the ordinary

Originally posted by trust_no_one
thanks for the update, glad i was online to see it fresh on the new topics
ive been following these resignations fairly closely and have been sharing with my peers
very interesting facts... i can only wonder and imagine what is to come and if there is a cause

i do remember a post mentioning the fiscal year was ending which could be an explanation but this still seems far out of the ordinary

This is what I wonder as well. It does seem like some of these resignations would be a result of that, but there are other more "suspicious" resignations, like these central bank CEO's going away with no particular plans for the future.

There is the major case of the World Bank as well...

is this something we should be watching? or is this just a bunch of older rich people who are done steeling our money and want to live easy?

either way to me it seems like it could be something to keep looking in to and see if there is a trend to fallow. they could be getting out cus they know a big economic collapse is on the horizon.

i guess i will get some popcorn ready if this is the beginning of something big.

Are they going to the bunkers?

If I were a conspiracy minded person I would say that it sure seems like someone gave all of these men a little ultimadum.

Walk out or be carried out.

Cuz. that sure seems to be the way they are acting.
All of these resignations are all just coincidence??!?!?!!?!?!!?!?!

REALLY?!?!?!?!

There IS IS IS IS a reason behind all of this.
We WILL find out what that reason is REAL soon.


BET!

Maybe they are about to get into politics lol

Thanks for all the work youve put into digging this up......
Its a worthwhile endeavour andi for one feel your onto something big.....
What will happen is anyones guess, but the big boys look like they are ducking for cover.....
The large corporate CEOs and other big wig resignations may be pertinent as well......
Both Ben Bernake, and his cohort Timmy Geithner signed off on tth HBSC scandal in england as witnesses to and party to its implementation.....
the 15 trillion, the whole scam......
Lord Blakenheaths scam speech to house of lords......
There will be some fur flying over that.....the scam totals out at 27 trillion!

Originally posted by Screwed
If I were a conspiracy minded person I would say that it sure seems like someone gave all of these men a little ultimadum.

Walk out or be carried out.

Cuz. that sure seems to be the way they are acting.
All of these resignations are all just coincidence??!?!?!!?!?!!?!?!

REALLY?!?!?!?!

There IS IS IS IS a reason behind all of this.
We WILL find out what that reason is REAL soon.


BET!

edit on 4-3-2012 by Screwed because: (no reason given)

Well, my I have two theories on that.

Either they're running away from a crumbling economy, or they're slowly getting what they deserve. I've been reading people pretending to be fighting against this Elite structure for years, and they said this would be the first stage of their victory. After all, there are quite a lot of these resignations that are forced resignations, and there are a couple of arrests within this list as well.

I believe it's either one of these two, because when a lot of major players leave at the same time, it usually ain't just a coincidence. Some of them are insiders, meaning they are allowed a bigger portion of the plan than normal bankers.

Originally posted by stirling
Thanks for all the work youve put into digging this up......

Its a worthwhile endeavour andi for one feel your onto something big.....
What will happen is anyones guess, but the big boys look like they are ducking for cover.....
The large corporate CEOs and other big wig resignations may be pertinent as well......
Both Ben Bernake, and his cohort Timmy Geithner signed off on tth HBSC scandal in england as witnesses to and party to its implementation.....
the 15 trillion, the whole scam......
Lord Blakenheaths scam speech to house of lords......
There will be some fur flying over that.....the scam totals out at 27 trillion!

27T?

1.2T Keenan Lawsuit scandal
6T seized in Italy
15T scam exposed by Lord BlackHeath

It makes 22.2T. Is there another exposure I missed?

And that is small, compared to the unannounced bailouts the FED made to various banks. It was partially exposed by the audit, but I think there are more trillions involved than what has been announced.

Originally posted by Screwed
If I were a conspiracy minded person I would say that it sure seems like someone gave all of these men a little ultimadum.

Walk out or be carried out.

Cuz. that sure seems to be the way they are acting.
All of these resignations are all just coincidence??!?!?!!?!?!!?!?!

REALLY?!?!?!?!

There IS IS IS IS a reason behind all of this.
We WILL find out what that reason is REAL soon.


BET!

edit on 4-3-2012 by Screwed because: (no reason given)

I agree completely and it's the growing chorus of not running for re-election among the well established and powerful in politics that dovetail with the bankers and get me a real bad feeling. The rats are jumping ship and no one bothered to tell us why down in steerage.

....It sure is a parade over the side though...isn't it?

That reminds me of the movie titanic. The rich get the farewell music while the people in steerage get locked up.

MAJOR UPDATE!

Wealthy British banker and his wife are killed on holiday by carbon monoxide poisoning

Well, just noticed this. It's for yesterday, a wealthy banker has been found dead, poisoned by carbon dioxyde. Suicide, accident, murder???

Once again...timely.

I have been following your threads. I too want to Thank you for doing this. I have no clue what is going on. It certainly looks like something is. It is tempting to become frightened, but what good would that do? I feel like I have victim tattooed on my forehead.

I know nothing of finance beyond my checkbook and well lets just say I know nothing about finance.

Just make a list to where these folks are "retiring" to.
If a global currency collapse happens, the US will have to know where to pursue these terrorists.
We have done much worse for much less.