World financial infrastructure approaching instability


The accelerating shake-up of the world financial landscape is now reaching exponential velocity.  Take a look…

  1. 9/01/11 (USA NY) Bank of New York Mellon Chief Robert P. Kelly Resigns in a Shake-UP
  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.
  3. 9/25/11 (SWITZERLAND) UBS  CEO Oswald Gruebel quits over £1.5bn rogue trader crisis
  4. 9/28/11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per end-April 2012
  5. 10/29/11 (CHINA) China Construction Bank Corp Chairman Guo Shuqing resigns
  6. 10/29/11 (CHINA) Agricultural Bank of China Ltd Chairman Xiang Junbo resigns
  7. 11/01/11 (INDIA) More directors of the Beed district bank resign
  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)
  9. 11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign
  10. 11/29/11 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorp. and Seneca National Bank
  11. 12/15/11 (UK) Senior private banker James Fleming resigns from Coutts [private bank]
  12. 12/23/11 (USA VA) Bank feud: Chairman Mark Giles quits VNB
  13. 12/23/11 (USA VA) Bank feud: Board Member Claire Gargalli quits VNB
  14. 12/23/11 (USA VA) Bank feud: Board Member Leslie Disharoon quits VNB
  15. 12/23/11 (USA VA) Bank feud: Board Member Neal Kassell quits VNB
  16. 1/01/12 (NIGERIA) United Bank for Africa Plc Victor Osadolor resigns
  17. 1/01/12 (ISRAEL) Israel’s Bank Leumi CEO Galia Maor steps down after 16 years
  18. 1/03/12 (USA VA) Suffolk Bancorp president and CEO J. Gordon Huszagh steps down
  19. 1/03/12 (UK) Arbuthnot Banking Group: Neil Kirton resigned from the Board
  20. 1/03/12 (UK) Arbuthnot Banking Group: Atholl Turrell left the Board.
  21. 1/05/12 (UK) Saunderson House [Private Bank] CEO Nick Fletcher steps down
  22. 1/09/12 (SWITZERLAND) SNB Chairman Philipp Hildebrand resigns
  23. 1/19/12 (SPAIN) Spanish bank Santander’s Americas chief Francisco Luzon quits
  24. 1/30/12 (UK) Butterfield Private Bank head Danny Dixon Steps Down
  25. 1/20/12 (JAPAN) Normura’s head of wholesale banking Jasjit Bhattai quits
  26. 1/21/12 (Greece) Institute of International Finance negotiator Charles Dallara quits
  27. 1/21/12 (Greece) Institute of International Finance negotiator Jean Lemierre quits
  28. 1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Gov Alan Bollard to Step Down
  29. 1/30/12 (UK) British Private Equity and Venture Capital Association (BVCA) COO Andrew Graham steps down
  30. 1/31/12 (SCOTLAND) Royal Bank of Scotland former CEO Fred Goodwin Stripped of Knighthood
  31. 2/01/12 (SOUTH AFRICA) ABSA [Barclay’s Bank] deputy CEO Louis von Zeuner resigns
  32. 2/01/12 (UK) Lloyds Bankging Group head of wholesaleTruett Tate quits
  33. 2/01/12 (UK) Llyods Banking Group Tim Tookey leaving end of February
  34. 2/02/12 (VENEZUELA) Banking Crisis Arne Chacon arrested for Banking Corruption
  35. 2/05/12 (USA – NY) Morgan’s investment banking chairman Joseph Perella quit
  36. 2/05/12 (USA – NY) Morgan Stanley investment banking Tarek Abdel-Meguid quit
  37. 2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:
  38. 2/7/12 (USA) Bank Of America’s Mortgage Business Chief Barbara Desoer Retires
  39. 2/07/12 (INDIA) Kotak Mahindra Bank Falguni Nayar quits
  40. 2/07/12 (IRAN) Iran denies central bank resignation rumor (don’t believe until its denied?)
  41. 2/09/12 (VATICAN) Four Priests Charged In Vatican Banking Scandal (names not known)
  42. 2/9/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr Krotiuk quits
  43. 2/10/12 (KOREA) Korea Exchange Bank chief Larry Klane steps down
  44. 2/10/12 (INDIA) Tamilnad Mercantile Bank CEO A K Jagannathan resigns
  45. 2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al Sabbah resigns
  46. 2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales resigns
  47. 2/14/12 (UK) Social finance pioneer Malcolm Hayday quits Charity Bank
  48. 2/15/12 (WORLD) World Bank CEO Zoellick resigns
    Did the White House tell the World Bank president that he’s out?
  49. 2/15/12 (SLOVENIA) Nova Kreditna Banka Maribor CEO Andrej Plos resigns
  50. 2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO Bozo Jasovic resigns
  51. 2/16/12 (UK) The Financial Services Authority Margaret Cole is to step down
  52. 2/16/12 (GHANA) Databank Group Executive Chair Ken Ofori-Atta steps down
  53. 2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Geoffrey Calvert Quits
  54. 2/16/12 (AUSTRALIA) ANZ Bank Australia CFO Peter Marriott resigns
  55. 2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader Jason Edinburgh Arrested
  56. 2/16/12 (UK) Royal Bank of Scotland director equities bus. Vincent Walsh director Arrested
  57. 2/16/12 (UK) Marex Spectron senior trader Michael Elsom Arrested
  58. 2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns
  59. 2/17/12 (USA) Goldman Sachs CEO Lloyd Blankfein out as by summer
  60. 2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass resigns
  61. 2/18/12 (PAKISTAN) The Bank of Azad Jammu & Kashmir executive Zulfiqar Abbasi resigns
  62. 2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan Steps Down
  63. 2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
  64. 2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd: Zvi Itskovitch resigns
  65. 2/20/12 (USA WA) First Financial Northwest Director Spencer Schneider Quits
  66. 2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr Benigno Velez, resigns
  67. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Matlub resigns
    conflict of interest with director seat on unknown bank
  68. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Selima Ahmad resigns
    conflict of interest with director seat on unknown bank
  69. 2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Musabbir Ahmad resigns
    conflict of interest with director seat on unknown bank
  70. 2/21/12 (BANGLADESH) City General Insurance Co. Ltd director Geasuddin Ahmad resigns
    conflict of interest with director seat on unknown bank
  71. 2/21/12 (BANGLADESH) Social Islami Bank Limited director Taslima Akter resigns
    conflict of interest with director seat on Eastland Insurance Company Limited
  72. 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.
  73. 2/22/12 (HONG KONG) DZ BANK project finance head Tim Meaney quits
  74. 2/22/12 (USA) Goldman Sachs Hedge Fund Group Chief Howard Wietschner to Retire
  75. 2/23/12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank
  76. 2/23/12 (SCOTLAND) Royal Bank of Scotland Group director John McFarlane resigns.
  77. 2/24/12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns
  78. 2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate Kwang Meng Quek Resigns
  79. 2/24/12 (NEW ZEALAND) FSF Executive Director Kirk Hope resigns
  80. 2/24/12 (USA) Evercore Partners Head Eduardo Mestre steps down
  81. 2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman Stephen Fitzgerald quits
  82. 2/27/12 (GERMANY) Deutsche Bank Americas chief  Seth Waugh steps down
  83. 2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim quits
  84. 2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel Péretié Steps Down
  85. 2/27/12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns
  86. 2/27/12 (INDIA) Kotak Mahindra Bank Ms Falguni Nayar Quits
  87. 2/27/12 (GERMANY) Equiduct chairman Artur Fischersteps down
  88. 2/27/12 (BAHRAIN) – Mumtalakat Holding [Sovereign Wealth Fund] CEO Al Zain resigns
  89. 2/27/12 (IRAN) Bank Melli CEO Mahmoud Reza Khaavari Resigns – Flees to Canada!
  90. 2/27/12 (IRAN) Bank Saderat CEO Mohammad Jahromi resigns
  91. 2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down
  92. 2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee quits
  93. 2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits
  94. 2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites health reasons
  95. 2/28/12 (HONG KONG) Bank of America’s Asia-Pac. mrkts Brian Canniffe quits
  96. 2/28/12 (BELGIUM) KBC’s CEO Jan Vanhevel is to retire after a career spanning 41 years.
  97. 2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits
  98. 2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft
  99. 2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires
  100. 2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND director Gerald Leissner resigns
  101. 2/28/12 (ITALY) UNICREDIT: Chairman Dieter Rampl not available for a new mandate
  102. 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
  103. 2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director Keith Walsh resigns
  104. 2/29/12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps down
  105. 2/29/12 (UK) Honister Capital CEO Richard Pearson steps down
  106. 3/1/12 (MALAYSIA) RHB Bank Bhd deputy managing director Renzo Viegas quits
  107. 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.
  108. 3/1/12 (USA FL) Florida Venture Forum [Venture Capital] Exec Dir Robin Lester quits
  109. 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
  110. 3/1/12 (SINGAPORE) UBS Singapore – James Tulley is leaving Switzerland’s largest bank, it is not clear where he is going.
  111. 3/1/12 (USA NH) Piscataqua Savings Bank CEO Jay Gibson retires
  112. 3/1/12 (ICELAND) Iceland’s Financial Supervisory Authority (FSA) fired its director Gunnar Andersen
  113. 3/2/12 (CHINA) China Construction Bank Corp, the assistant general manager and head of corporate banking Mickey Mehta quits
  114. 3/2/12 (USA) Deutsche Bank Student Loan CEOJohn Hupalo quits to start student loan counseling firm.
  115. 3/2/12 (UK) Bank of England Sir Mervin King resigns in June, Lord Sassoon tipped as replacement.
  116. 3/2/12 (BOTSWANA) Barclays Bank Botswana managing director Wilfred Mpai forced to resign
  117. 3/2/12 (HONG KONG) New Century Group Hong Kong Ltd [investment house and leisure group] Wilson Ng resigns
  118. 3/2/12 (USA) Citigroup Richard Parsons to step down as chairman
  119. 3/3/12 (AUSTRIA) Volksbank AG (VBAG) The contract of CEO Gerald Wenzel will not be extended
  120. 3/3/12 (ETHIOPIA) Dashen Bank’s board dismisses president Leulseged Teferi
  121. 3/4/12 (KOREA) Hana Financial Group Inc, prominent figure in the history of South Korean finance Kim Seung-yu , resigns
  122. 3/4/12 (USA) JP Morgan prop trading chief Mike Stewart quits
  123. 3/5/12 ( SAUDI ARABIA) Al Rajhi Bank CEO Abdullah bin Sulaiman Al Rajhi has resigned
  124. 3/5/12 (UK) Jupiter fund co-manager Tony Nutt steps down
  125. 3/5/12 (UK) Jupiter fund co-manager John Hamilton steps down
  126. 3/5/12 (NEW ZEALAND) Insured Group Bill Jeffries has resigned as chairman and director
  127. 3/5/12 (USA) Reliance Bancshares chairman Patrick Gideon resigned
  128. 3/6/12 (FRANCE) Blackstone Group’s Paris office leader Jean-Michel Steg will step down
  129. 3/6/12 (JAMAICA) Jamaica Money Market Brokers Limited, Patricia Sutherland has resigned as Executive Director
  130. 3/6/12 (JAMAICA) Jamaica’s Financial Services Commission (FSC), Executive director Rohan Barnett, has resigned the position, the Ministry of Finance, Planning and the Public Service announced this afternoon.
  131. 3/6/12 (USA) USA Technologies Inc Bradley M. Tirpak, a nominee of Shareholder Advocates for Value Enhancement, has resigned from its board subsequent to a settlement agreement with the investing group, according to an SEC filing.

█▓▒░   End of list as of 3/3/12  ░▒▓█
It is not known under what circumstances these individuals have left their positions, I make no judgment on that. I find the timing of so many resignations extremely curious and a temporal marker in history of high significance. No one should assume I make any judgment about the character of these people. I frankly don’t know their reputations except for a few rather famous ones.
This list includes Banks, Investment Houses, Sovereign Wealth Funds, Equity Funds, Savings Retirement Funds and other shadow banking organizations. The line is very blurry between these entities, some are owned by banks some are banks, some invest in banks as well as owning entire industries (common in Hong Kong and Japan).

Reprinted from American Kabuki ( at the suggestion of ‘Hak’ Hakanson of Chiang Mai, Thailand

A ‘tip o’ the hat’ to ‘Hak’ Hakanson


This entry was posted in Asia, Debt, Economics, EU, Fragile Markets, Geoff Yuen, Guest Contributor, Monetary, Politics, USA and tagged , , . Bookmark the permalink.

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