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Monday, February 20, 2012

A sinking ship...

And the rats are jumping ... There has been a wave of resignations in the international banking community.
1 World Bank
CEO Zoellick resigns http://business.time.com/2012/02/15/world-bank-president-zoellick-resigns/
2 Anz Bank CFO
Australia resigns http://www.proformative.com/news/1470243/cfo-anz-bank-resigns-amid-turmoil
3 Nicaraqua Central Bank Pres Rosales resigns http://www.bloomberg.com/news/2012-02-14/nicaragua-central-bank-head-quits-amid-row.html
4 Credit Suisse Chief
Joseph Tan resigns http://www.businessweek.com/news/2012-02-17/credit-suisse-s-private-bank-chief-asian-economist-tan-resigns.html
5 GERMAN
PRESIDENT Christian Ruff resigns http://www.dailymail.co.uk/news/article-2102524/German-President-Christian-Wulff-forced-resign.html
6 Royal Bank
of Scotland Austrailin CEO Stephen Williams resigns http://www.theaustralian.com.au/business/wall-street-journal/andrew-chick-to-lead-royal-bank-of-scotlands-australian-arm/story-fnay3vxj-1226272513981
7 Kuwait Central
Bank CEO resigns http://www.washingtonpost.com/business/industries/kuwait-central-bank-chief-resigns-amid-political-tensions/2012/02/13/gIQAcxrOAR_story.html
8 Slovenia TWO
largest Banks CEO's (2) resign http://www.bloomberg.com/news/2012-02-15/slovenia-s-nova-kreditna-banka-maribor-ceo-plos-resigns.html
9 Bank of India CEO
Chaturvedi resigns http://www.livemint.com/2012/02/06160111/Dhanlaxmi-Bank-CEO-Amitabh-Cha.html
10 Tamilnad
Mercantile Bank CEO resigns http://www.business-standard.com/india/news/tamilnad-mercantile-bank-md-resigns/464259 (this article appears to have been removed).

Why do you suppose this is happening? No doubt something BIG is about to happen and it probably isn't nice. These people appear to be distancing themselves from something. The story which lists the above appeared in the Washington Post but I was unable to link the to the page as it was no longer posted. Wonder why. Anyway, it could be the world is about to get a new banking system so, if you have money in the bank, you may want to take out some for a few days.

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