Worldwide Banking Resignations Triple According to Revised Numbers: Why Now?
On March 6, 2012, I wrote an article entitled “Mass Banking Resignations Signal A Purging Has Begun?” where I included a list of banking directors, CEOs, and board members of both national and international financial institutions standing who have resigned from their post since September 2011. The data was collected and compiled by independent blog American Kabuki and posted online complete with a description of the individual, location, and link to the resignation announcement where it was covered in the mainstream media.
At the time my article was posted, the list had already topped 122. This prompted many, including myself, to question whether or not 122 was actually such a large number, given that there are many national and international institutions across the globe, as well as the fact that these resignations took place within a span of a period of about five months.
Certainly, the number seemed enormous.
Apparently American Kabuki had the same questions. Only a few weeks after the initial posting, the blogger posted a chart that included the number of resignations filed with the SEC, as required by the Securities Exchange Act of 1934, going back to 2008 and in to the fourth quarter of 2011. Tracing the resignations back to 2008 would, obviously, provide something close to a representative sample of the normal rate of resignation over a period of three years.
What these statistics revealed was a staggering increase in the number of resignations announced around the second and third quarters of 2011.
I included this chart, along with some commentary, in my article “Why Are Bankers Jumping Ship In Record Numbers, Financial Collapse Imminent?” Please see this article in order to understand the specifics of the statistics presented by American Kabuki’s research. Or, view American Kabuki’s own presentation here.
However, chart or no chart, the recently revised number regarding resignations from financial firms, banks, etc. seems to put many of the questions to rest.
Indeed, a recent post by American Kabuki now shows that the number of resignations stand at 358, almost triple the number originally posted.
The revised list of resignations will be included at the end of this article along with the links to the announcements.
With all of this in mind, and, if the research provided by American Kabuki is correct, then the only question really left for us to ask is “Why?”
Why are so many bankers, CEOs, fund managers, and investors resigning all at once? Why now?
One might be tempted to ask whether or not there is a coming investigation that these individuals are trying to avoid but, given the track record of the regulatory system, this is not our most likely option. Considering the current state of the economy, it might seem more logical to ask if these individuals are not trying to abandon ship before the collapse of the world financial system finally takes place.
Or it could be something entirely different. At this point, we simply do not know. Regardless, something big is obviously happening in the financial world and the forces behind it are acting on information that the general public is unaware of.
List of resignations as compiled by American Kabuki:
9/01/11 (USA NY) Bank of New York Mellon Chief Robert P. Kelly Resigns in a Shake-UP
9/06/11 (BELGIUM) Dexia confirmed that its CEO Stefaan Decraene had left the company. Its exposures to sovereign debt in the PIIGS nations are larger than its core Tier 1 capital.
9/09/11 (GERMANY) European Central Bank (ECB) governing board member Jürgen Stark, who has resigned
9/12/11 (HONG KONG) HSBC Group Hang Seng Bank Non-Executive Director Mark McCombe resigns
9/14/11 (USA NJ) Columbia Bank CEO Raymond G. Hallock Announces Retirement
9/14/11 (NEW ZELAND) AMP NZ Office Limited (ANZO), Mark Verbiest has resigned as a director. His resignation arises due to his desire to devote the necessary time and energy to his prospective new role as Chairman of Telecom, assuming the Telecom demerger is sanctioned by Telecom shareholders.
9/15/11 (USA NY) Morgan Stanley, Chairman John Mack resigns
9/18/11 (JORDAN) Central Bank governor Faris Sharaf resigns over policy
9/20/11 (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.
9/21/11 (AUSTRALIA & NZ) JP Morgan Australia and New Zealand Worldwide Securities Services CEO Jane Perry resigned
9/25/11 (SWITZERLAND) UBS CEO Oswald Gruebel quits over £1.5bn rogue trader crisis
9/25/11 (USA CA) Douglas E. Tow, Executive Vice President and Chief Credit Officer, will retire from the Company http://goo.gl/24aAU 9/28/11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per end-April 2012
9/29/11 (JAPAN) BLIFE Investment Corporation, Asset Manager Director Masaomi Yamadaira resigned.
9/29/11 (UK) Barclays, Head of UK & European Retail Banking Deanna Oppenheimer resigned.
9/29/11 (USA NM) New Mexico Pension Fund Director Terry Slattery Resigns
9/30/11 (SINGAPORE) AIMS AMP CAP INDUSTRIAL REIT, Ms Tang Buck Kiau resigned.
10/01/11 (USA MO) Federal Reserve Bank of Kansas City President Thomas M. Hoenig retired on Oct. 1, 2011
10/03/11 (INDIA) The of Euram Bank Asia, president Arun Panchariya, has resigned after being implicated in a stock trading scandal in India.
10/03/11 (GHANA) Intercontinental Bank Ghana Limited, Managing Director and CEO Albert Mmegwa resigned.
10/03/11 (USA FL) Quantek Opportunity Fund, portfolio manager Javier Guerra. Arbitration awarded $1 million damages to Aris Multi-Strategy Fund. Quantek Asset Management made false statements to Aris.
10/05/11 (UK) UBS co-chief François Gouws of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.
10/05/11 (UK) UBS co-chief Yassine Bouhara of global equities had resigned after last month’s revelation of a $2.3 billion loss from unauthorized trading.
10/10/11 (BELGIUM) Dexia (Franco-Belgian bank) its chairman Jean-Luc Dehaene will give up his role on the board of Dexia’s Belgian division, which is being sold to the Belgian state as part of a rescue deal, the group said on Monday.
10/11/11 (UK) BlackRock, head of sterling portfolios and manager of the Corporate Bond fund, Paul Shuttleworth, has resigned after 11 years at the firm.
10/11/11 (UK) Dynamic Funds, portfolio manager David Taylor has resigned.
10/11/11 (CHINA) China Construction Bank Non-Executive Direct Sue Yang resigns for personal reasons.
10/13/11 (UK) Cogent Partners co-head research department Katita Palamar resigned.
10/13/11 (UK) Cogent Partners co-head research department Bill Farrell resigned.
10/14/11 (USA TX) Deutsche Bank Investment Advisor Griffin Perry resigns, SEC regulations prevented him from campaigning for his fatherRick Perry’s Presidential campaign.
10/23/11 (USA) Fairholme Capital Management LLC, Director Charles Fernandez stepped down for personal reasons. Fairholme Fund has lost 26 percent of its net asset value due to bets that have backfired on AIG Inc, Bank of America Corp and Florida-based landowner and developer St Joe Co.
10/24/11 (ICELAND) Icelandic State Financial Investments board members of Icelandic State Financial Investments have resigned following “outside interference” with their Sept. 30 decision to hire Pall Magnusson, the former political adviser to the island’s industry minister, as chief executive officer. [names and positions have been requested from the reporter on 3/9/12]
10/24/11 (SINGAPORE) Keppel Corporation Limited, Teo Soon Hoe will resign from his role as group finance director Jan 1.
10/26/11 (INDIA) Beed District Bank (Coop Bank) CEO B S Deshmukh arrested for embezzling Maharashtra State Electricity Distribution Company Ltd payment deposits.
10/26/11 (INDIA) Beed District Bank (Coop Bank) former CEO A N Kulkarni arrested for embezzling Maharashtra State Electricity Distribution Company Ltd payment deposits.
10/27/11 (USA NY) Keefe, Bruyette & Woods Inc (KBW) CEO John Duffy stepped aside. Duffy has prostate cancer.
10/29/11 (CHINA) China Construction Bank Corp Chairman Guo Shuqing resigns
10/29/11 (CHINA) Agricultural Bank of China Ltd Chairman Xiang Junbo resigns
10/31/11 (EUROPEAN COMMUNITY) European Central Bank President Jean-Claude Trichet, resigns.
11/01/11 (INDIA) Beed District Bank (Coop Bank More directors resign [research still being conducted on the names]
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)
11/03/11 (POLAND) Nordea Bank Poland, Wlodzimierz Kicinski resigned from as President of the Management Board of Nordea Bank Poland as of the 10th of November.
11/04/11 (USA NY) MF Global, Jon Corzine, stepped down as chairman and CEO, hired criminal attorney to represent him.
11/07/11 (SINGAPORE) Singapore Mercantile Exchange (SMX), CEO Framroze Pochara quits.
11/08/11 (SINGAPORE) The Singapore Fund, Inc, Austin C. Dowling has resigned as Director of the Fund
11/09/11 (USA NY) HSBC Israeli desk, managing director Issac Doueck resigned.
11/09/11 (ISRAEL) HSBC Israeli desk, senior representative Simon Hakim resigned.
11/09/11 (SWITZERLAND) HSBC Israeli desk, head of Israel Dan Sagi resigned.
11/09/11 (USA NY) HSBC Israeli desk, ????? resigned.
11/09/11 (USA NY) HSBC Israeli desk, ????? resigned.
11/10/11 (EUROPEAN COMMUNITY) European Central Bank Lorenzo Bini Smaghi resigned from the European Central Bank’s Executive Board.
11/11/11 (HONG KONG) Goldman Sachs’ Asia Pacific co-head Yusuf Alireza is retiring from the investment bank after 19 years
11/10/11 (INDIA) UBS The head of India operations at UBS AG , Manisha Girotra, has resigned
11/15/11 (USA NY) Icahn Enterprises LP, senior managing director of health-care investing, Alex Denner, has resigned.
11/16/11 (EUROPEAN COMMUNITY) International Monetary Fund Europe, director Antonio Borges resigns for personal reasons.
11/17/11 (NETHERLANDS) Syntrus Achmea (pensions manager), CIO Marjolein Sol is resigning.
11/18/11 (SCOTLAND) Scottish Widows Investment Partnership Limited (SWIP) Private Equity Fund, wish to announce the resignation of John Brett from the Board of Directors of the Company, for business reasons.
11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign
11/23/12 (USA SC & NC) Bank of the Carolinas, CFO Eric Rhodes resigns for personal reasons. Bank of the Carolinas was delisted from the NASDAQ on 3/9/12
11/24/12 (IRELAND) AXA Rosenberg Management Ireland Limited, director Simon Vanstone resigns.
11/28/11 (LATVIA) Latvia’s chief banking regulator, Irena Krumane, said she resigned today, a week after the state took over Latvijas Krajbanka AS (LKB1R), the Baltic News Service reported. The bank regulator suspended operations at Krajbanka, a subsidiary of Lithuania’s Bankas Snoras AB, on Nov. 21 and said around 100 million lati ($191.8 million) was missing. The Lithuanian government seized Snoras on Nov. 16 saying assets reported on the lender’s balance sheet were missing.
11/29/11 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorp. and Seneca National Bank
11/29/11 (NORWAY) Carnegie ASA’s co-head of investment banking in Norway, Cato Holmsen, has resigned
11/29/11 (FRANCE) AXA Real Estate Investment Managers, Global head of business development, strategy and research for Kiran Patel, has handed in his resignation. Patel was with the firm for 11 years.
11/30/11 (LITHUANIA) Lithuania Central Bank, Governor Vitas Vasiliauskas fired Kazimieras Ramonas, head of the banking supervision department, after seizing Bankas Snoras AB, the country’s third-biggest deposit bank.
12/01/11 (SRI LANKA) Sri Lanka’s Securities and Exchange Commission (SEC) head Indrani Sugathadasa resigned.
12/02/11 (PAKISTAN) NIB Bank, Singapore forced resignation of CEO Khawaja Iqbal Hassan, for mismanagement
12/03/11 (USA SC) South Carolina’s $25 billion pension fund chief investor Robert Borden resigned. Borden’s resignation comes as the SC Retirement System faces a $13 billion deficit, prompting state lawmakers to call for a massive overhaul of the system.
12/05/11 (BERMUDA) HSBC Bermuda Ltd, chairman of the board and director John Campbell resigns
12/05/11 (BERMUDA) HSBC Bermuda Ltd, CEO Philip Butterfield retires
12/06/11 (USA ) Western Liberty Bancorp CFO George Rosenbaum has resigned.
12/08/11 (USA) Fidelity Global Special Situations Fund, manager Jorma Korhonen resigned.
12/08/11 (INDIA) Nomura’s co-head of equity-linked solutions Neeraj Hora, resigns
12/14/11 (MAURITIUS) African Alliance Africa Pioneer Fund I (the “Fund”), Portfolio Manager Paul David Austin Clark resigned
12/14/11 (USA NY) Goldman Sachs global head Milton R. Berlinski retiring at the end of the year
12/15/11 (UK) Coutts [private bank] Senior private banker James Fleming resigns
12/19/11 (CANADA) Holloway Lodging Real Estate Investment Trust (a REIT) CEO Glenn Squires has resigned
12/19/11 (JAPAN) Citibank Japan CEO, Darren Buckley, resigns after Citibank was punished by regulators for the third time in seven years.
12/19/11 (DENMARK) Danske Bank Peter Straarup, who will retire February 15
12/19/11 (DENMARK) Danske Bank Eivind Kolding has resigned as Chairman of the Board of Directors and from the three board committees on which he served, He continues as member of Danske Bank’s Board of Directors until he assumes the position of Chairman of the Executive Board on 15 February 2012. On the same day, at the latest, Eivind Kolding will resign from the A.P. Moller-Maersk Group.
12/20/11 (UK) Prudential (UK) Chairman Harvey McGrath has informed the Board of his intention to retire from the Board in 2012 once a successor has been found.
12/20/11 (USA MA) Century Bancorp, Inc., Director Roger S. Berkowitz resigned.
12/21/11 (USA MN) Voyager Bank, fired CEO trade accusations, New details have emerged in Voyager Bank’s firing of its CEO in a court filing that accuses him of defrauding the bank of $15 million. The former CEO, Timothy Owens, has sued the bank for wrongful termination and accused the bank of defaming him.
12/23/11 (USA VA) Virginia National Bank (VNB) Chairman Mark Giles quits
12/23/11 (USA VA) Virginia National Bank (VNB) Board Member Claire Gargalli quits
12/23/11 (USA VA) Virginia National Bank (VNB) Board Member Leslie Disharoon quits
12/23/11 (USA VA) Virginia National Bank (VNB) Board Member Neal Kassell quits
12/23/11 (USA) Third Avenue Value Fund, co-manager Marty Whitman is leaving.
1/01/12 (NIGERIA) United Bank for Africa Plc Victor Osadolor resigns
1/01/12 (ISRAEL) Israel’s Bank Leumi CEO Galia Maor steps down after 16 years
1/03/12 (GREECE) Marfin Popular Bank Public Co Ltd, Mr Eleftherios Hiliadakis has resigned from the Board of Directors.
1/03/12 (USA VA) Suffolk Bancorp president and CEO J. Gordon Huszagh steps down
1/03/12 (USA WI) Michael Falbo, president and CEO of Southport Bank, has resigned just six months after accepting the position.
1/03/12 (UK) Arbuthnot Banking Group: Neil Kirton resigned from the Board
1/03/12 (UK) Arbuthnot Banking Group: Atholl Turrell left the Board.
1/05/12 (UK) Saunderson House [Private Bank] CEO Nick Fletcher steps down
1/05/12 (USA NY) Blackstone/GSO Senior Floating Rate Term Fund and Blackstone/GSO Long-Short Credit Income Fund announced that John R. O’Neill has resigned.
1/07/12 (UK) Arab Banking Corporation Intl. Bank (ABCIB) Manama, Bahrain: ABCIB announced retirement of CEO Nofal Barbar from its London office.
1/09/12 (SWITZERLAND) SNB Chairman Philipp Hildebrand resigns
1/09/12 (USA WASHINGTON DC) Whitehouse former banker and Chief of Staff William M. Daley resigned
1/09/12 (USA NY) Morgan Stanley Chief Legal Officer Frank Barron retires.
1/09/12 (SWITZERLAND) Temenos Group AG, provider of core banking software announced the resignation of Mark Austen as a member of the Board of Directors.
1/10/12 (USA IN) Security Bank of Springfield, president and CEO Steve Cour has announced plans to retire at the end of June.
1/11/12 (KAZAKHSTAN) BTA Bank, CEO Marat Zairov resigns for health reasons.
1/11/12 (SWITZERLAND) La Banque Privée Edmond de Rothschild, CEO Claude Messulam resigns, replaced by Christophe de Backer, Claude Messulam to become a director of the bank holding company.
1/12/12 (USA) Goldman Sachs, Co-Head Securities Trading Edward K. Eisler retires
1/12/12 (USA) Goldman Sachs, Co-Head Securities Trading David B. Heller retires
1/13/12 (IRELAND) National Asset Management Agency, head of lending Graham Emmett is resigning
1/13/12 (USA DC) World Bank, Vice President for Africa, Oby Ezekwesili will retire from her position at the World Bank in May.
1/17/12 (CANADA) Cumberland Private Wealth Management CIO John Wilson quit to join another money manager.
1/17/12 (HONG KONG) Oversea-Chinese Banking Corporation Limited (OCBC Bank) CEO David Conner retires.
1/17/12 (UK) Morgan Stanley Intl, chairman Walid Chammah is retiring. An inside source speculated that it could mean that the company had suffered exposure to European sovereign debt woes under Chammah’s purview.
1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Ali Yousef Al Awwadhy resigned.
1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Miss Anoud Fadhel Al Hathran resigned.
1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Tarek Farid Al Othman resigned.
1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Salem Ali Hassan Al Ali resigned.
1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Majed Ali Oweid Awadh resigned.
1/17/12 (KUWAIT) Commercial Bank of Kuwait S.A.K. Board Member Mr. Badr Suliman Al Ahmed resigned.
1/18/12 (USA) Goldman Sachs co-heads of Goldman’s securities business David Heller resigns.
1/18/12 (USA) Goldman Sachs co-heads of Goldman’s securities business Edward Eisler resigns.
1/18/12 (USA) Goldman Sachs co-head of its investment management division Ed Forst resigns.
1/19/12 (UK) Santander, senior director Americas division Francisco Luzón is retiring with a pension pot of about €56m, a package whose generous size is expected to reignite controversy over bankers’ remuneration.
1/19/12 (EGYPT) Beltone Financial Holding (BTFH) Alaa’ Sabaa resigned from board of directors.
1/19/12 (EGYPT) Beltone Financial Holding (BTFH) Wael EL Mahgary resigned from board of directors.
1/20/12 (USA NY) JPMorgan Chase, Mortgage Banking Default organization head Scott Powell has decided to leave the bank.
1/20/12 (JAPAN) Normura’s head of wholesale banking Jasjit Bhattai quits
1/20/12 (SOUTH AFRICA) First National Bank’s sharia banking division is in a state of flux after it was hit by a corporate governance scandal in which its chief executive, Ebi Patel, was put on “special leave” for almost a month while an internal probe was conducted. Patel has been reinstated, but is facing disciplinary action. Islamic finance forbids the payment and receipt of interest (riba), and investment in some industries. Sharia law states that interest-bearing transactions result in economic ills such as unemployment and high inflation. Trading in derivatives and speculative investment are also forbidden. Sharia law requires all transactions to be backed by tangible assets.
1/20/12 (USA) TIAA-CREF executive vice president and president of Asset Management, Scott C. Evans resigned
1/20/12 (SOUTH AFRICA) South African deputy economic development minister Enoch Godongwana quit his post this week in the face of growing outrage in government circles about his involvement in a company that allegedly defrauded clothing factory workers of R100-million of their pension fund money.
1/21/12 (UK) Butterfield Private Bank head Danny Dixon Steps Down
1/21/12 (SINGAPORE) ANZ Asia’s private banking head Nina Aguas resigns as managing director of Asia-Pacific private banking.
1/21/12 (USA CA) Nara Bancorp (Now called BBCN) President and CEO Min Kim Resigns
1/22/12 (KENYA) National Bank of Kenya’s (NBK) managing director, Mr Reuben Marambii, will resign before year end.
1/24/12 (IRELAND) Deutsche International Corporate Services Limited fund, Paul Shevlin resigned as a director
1/24/12 (SWITZERLAND) Global Fund to Fight AIDS, Tuberculosis and Malaria, Dr. Michel Kazatchkine, a French clinical immunologist and head of the $22.6 billion fund has abruptly resigned, since revelations about corruption and misspending severely rattled some of its biggest donors. The resignation came on the eve of the World Economic Forum meeting in Davos, which played a role in its creation a decade ago. A dinner for the public-private fund is planned Thursday with U.N. Secretary-General Ban Ki-moon and major backers Bill Gates and the Bill & Melinda Gates Foundation. The shakeup resulted from an internal review to address problems highlighted in Associated Press stories last year about the loss of tens of millions of dollars in grant money because of mismanagement and alleged fraud. Its biggest private donor is the Bill & Melinda Gates Foundation, which has pledged $1.15 billion and provided it with $650 million so far.
1/25/12 (UK) SOFIA PROPERTY FUND LIMITED, Gerry Williams has resigned as a Director, following his resignation from Ardel Holdings Limited (“Ardel”) where he was CEO. Ardel is the holding company of Ardel Fund Services Limited which provides administration services in Guernsey to the Company.
1/25/12 (USA NY) Fortress Private Equity, CEO Daniel Madrid (aka Daniel Mudd) has resigned. Madrid was forced to leave in order to deal with SEC allegations. Prior to joining Fortress, Madrid served as Fannie Mae CEO and was forced to resign. SEC sued Madrid and former Freddie Mac CEO Richard West Long (aka Richard Syron) for hiding hundreds of billions of dollars in subprime loans. Madrid denied the SEC allegations saying the US govt. and investors were informed of Fannie Mae’s loan data.
http://goo.gl/u9IdB and http://goo.gl/v94ik and http://goo.gl/tXQwP
1/27/12 (SINGAPORE) AIMS AMP CAP INDUSTRIAL REIT, Mr Graham Sugden resigned.
1/27/12 (SOUTH AFRICA) ABSA Group COO Alfie Naidoo would be leaving to pursue personal interests
1/27/12 (SOUTH AFRICA) ABSA Group chief marketing and communication officer Happy Ntshingila, will be taking up an “exciting position” outside banking
1/27/12 (SOUTH AFRICA) ABSA Group CEO Daphne Motsepe retires at the end of April after a 10-year career at the bank.
1/29/12 (PORTUGAL) Banco Santander Totta SA executive chairman Nuno Manuel da Silva Amado has resigned
1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Gov Alan Bollard to Step Down
1/29/12 (UAE) NBD, Emirates ‘s investment banking division CEO Suresh Kumar is leaving the bank
1/30/12 (UK) British Private Equity and Venture Capital Association (BVCA) COO Andrew Graham steps down
1/31/12 (SCOTLAND) Royal Bank of Scotland former CEO Fred Goodwin Stripped of Knighthood
2/01/12 (SYRIA) Arab Bank Syria Board member Basma Talal Zein resigns.
2/01/12 (SOUTH AFRICA) ABSA [Barclay's Bank] deputy CEO Louis von Zeuner resigns
2/01/12 (UK) Lloyds Bankging Group head of wholesaleTruett Tate quits
2/01/12 (UK) Llyods Banking Group Tim Tookey leaving end of February
2/02/12 (VENEZUELA) Banking Crisis Arne Chacon arrested for Banking Corruption
2/02/12 (USA) American Perspective Bank, President and CEO Thomas J. Beene resigned.
2/02/12 (USA) NIR Group hedge funds, Corey Ribotsky was forced out of NIR by Pricewaterhouse-Coopers, the court-appointed liquidator, following allegations of fraud by the Securities and Exchange Commission. In September, the SEC sued Ribotsky and NIR for taking more than $1 million of investors’ money to buy cars and watches. 2/02/12 (IRELAND) AXA Rosenberg Management Ireland Limited, director Nathalie Savey resigned.
2/03/12 (UK) VinaCapital Vietnam Opportunity Fund Ltd, Non-Executive Director Horst Geicke has resigned.
2/03/12 (UK) UBS London trader, Kweku M. Adoboli, was arrested and charged with fraud and false accounting, forcing UBS to announce a $2.3 billion trading loss.
2/05/12 (USA – NY) Morgan’s investment banking chairman Joseph Perella quit
2/05/12 (USA – NY) Morgan Stanley investment banking Tarek Abdel-Meguid quit
2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:
2/06/12 (USA NY) TD Ameritrade, head of retail distribution John Bunch resigns. Bunch is leaving to take the top job at a small investment advisory firm in Kansas City.
2/07/12 (USA) Bank Of America’s Mortgage Business Chief Barbara Desoer Retires
2/07/12 (INDIA) Kotak Mahindra Bank Falguni Nayar quits
2/07/12 (IRAN) Iran denies central bank resignation rumor (don’t believe until its denied?)
2/08/12 (SOUTH AFRICA) Standard Bank Group Ltd – Resignation of Group Secretary Loren Wulfsohn
2/08/12 (USA OH) Cleveland International Fund (CIF) private equity fund, A. Eddy Zai launched and led the Cleveland International Fund, an investment outfit that pairs wealthy foreign investors hoping for U.S. residency with job-creating projects. Zai resigned from his job this week, before being indicted in a bank-fraud scheme that, according to investigators, contributed to the collapse of a credit union in Eastlake.
2/08/12 (UAE) Emirates NBD makes top-level changes Bank’s deputy chief executive officer Abdul Wahed Al Fahim has resigned.
2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 62 year old Monsignor Emilio Messina, the Archdiocese of Camerino-San Severino Marche investigated on money laundering by Italian officials.
2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 49 year old Father Don Salvatore Palumbo of the socially popular parish of San Gaetano
2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 37 year old Father Horace Bonaccorsi of Catania, already tried and acquitted in Sicily for money laundering offenses recycling money through accounts at IOR
2/09/12 (VATICAN) Institute for Religious Works (IOR aka “Vatican Bank”), 85 year old Father Don Evaldo Biasini of Rome. Father Don Evaldo Biasini is known as the “Don of Cash”.
2/09/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr Krotiuk quits
2/09/12 (UK) JP Morgan Chinese Investment Trust PLC, non-executive Director Madam Yujiang Zhao resigned
2/09/12 (UK) Alliance Trust Savings (ATS), Robert Burgess is stepping down as CEO.
2/10/12 (KOREA) Korea Exchange Bank chief Larry Klane steps down
2/10/12 (INDIA) Tamilnad Mercantile Bank CEO A K Jagannathan resigns
2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al Sabbah resigns
2/13/12 (UK) Goldman Sachs confirmed on Monday that George N. Mattson, one of the firm’s top deal makers in the industrial sector, will retire. He was a senior relationship banker with a client list that included General Motors, General Electric and Caterpillar.
2/13/12 (HONDURAS) Honduras finance minister William Chong Wong, resigned on Monday after the International Monetary Fund (IMF) said the country did not reach its deficit and monetary targets for 2011.
2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales resigns
2/14/12 (UK) Social finance pioneer Malcolm Hayday quits Charity Bank
2/14/12 (PAKISTAN) National Bank of Pakistan (NBP) chairman Syed Ali Raza resigned
2/14/12 (USA NY) Goldman Sachs Jeffrey Moslow resigns, an investment banker to companies such as Tyco International Ltd, Nstar, the Boston-based utility, and defense contractor Dyncorp International Inc.
2/15/12 (SOUTH AFRICA) HPA – Hospitality Property Fund Limited, chairman Frank Berkeley resigned.
2/15/12 (USA) Boston Properties (REIT), Executive VP and COO E. Mitchell Norvilleto resigned
2/15/12 (WORLD) World Bank CEO Zoellick resigns
Did the White House tell the World Bank president that he’s out?
2/15/12 (CHINA) Morgan non-executive chairman Stanley Stephen Roach will be retiring.
2/15/12 (SLOVENIA) Nova Kreditna Banka Maribor CEO Andrej Plos resigns
2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO Bozo Jasovic resigns
2/16/12 (USA IL) Deerfield Capital Management LLC, CEO Daniel Hattori and CEO of CIFC Corp resigned.
2/16/12 (USA IL) Deerfield Capital Management LLC, COO Luke Knecht and CEO of CIFC Corp, resigned both positions.
2/16/12 (UK) The Financial Services Authority Margaret Cole is to step down
2/16/12 (GHANA) Databank Group Executive Chair Ken Ofori-Atta steps down
2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Geoffrey Calvert Quits
2/16/12 (AUSTRALIA) ANZ Bank Australia CFO Peter Marriott resigns
2/16/12 (UK) Royal Bank of Scotland Sr Equities Trader Jason Edinburgh Arrested
2/16/12 (UK) Royal Bank of Scotland director equities bus. Vincent Walsh director Arrested
2/16/12 (UK) Marex Spectron senior trader Michael Elsom Arrested
2/16/12 (AUSTRALIA) Royal Bank of Scotland Austraila CEO Stephen Williams resigns
2/17/12 (SOUTH AFRICA) Coronation Fund Managers CEO Hugo Nelson is stepping down at age of 40.
2/17/12 (PAKISTAN) PICIC Asset Management Company Limited CFO Ahmed Raza resigns
2/17/12 (USA NY) Goldman Sachs CEO Lloyd Blankfein out as by summer
2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass resigns
2/17/12 (UK) Insight Investment, asset manager Mike Pinggera has resigned..
2/17/12 (USA NY) Harbinger Group Inc. CFO Francis T. McCarron has advised the Company of his resignation effective April 30
2/17/12 (BULGARIA) Bulgaria National Health Insurance Fund (NHIF), The managing director Neli Nesheva, resigned after a two-day row about end-of-year bonuses paid by NHIF to its employees.
2/18/12 (PAKISTAN) The Bank of Azad Jammu and Kashmir executive Zulfiqar Abbasi resigns
2/19/12 (MALTA) Bank of Valletta, director of the Multi-Manager Fund John C. Ripard, has resigned being reprimanded by the MFSA for disposing of his holdings in the Fund whilst in possession of sensitive information which was not available to the public.
2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan Steps Down
2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd: Zvi Itskovitch resigns
2/20/12 (USA WA) First Financial Northwest Director Spencer Schneider Quits
2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) Gen Mgr Benigno Velez, resigns
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Matlub resigns conflict of interest with director seat on unknown bank
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Selima Ahmad resigns conflict of interest with director seat on unknown bank
2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Musabbir Ahmad resigns conflict of interest with director seat on unknown bank
2/21/12 (BANGLADESH) City General Insurance Co. Ltd director Geasuddin Ahmad resigns conflict of interest with director seat on unknown bank
2/21/12 (BANGLADESH) Social Islami Bank Limited director Taslima Akter resigns conflict of interest with director seat on Eastland Insurance Company Limited
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.
2/22/12 (HONG KONG) DZ BANK project finance head Tim Meaney quits
2/22/12 (SINGAPORE) Macquarie International Infrastructure Fund’s CEO John Stuart to resign
2/22/12 (USA NY) Goldman Sachs Hedge Fund Group Chief Howard Wietschner to Retire
2/22/12 (UK) UBS AG’s (UBSN) Doug McCutcheon, head of Healthcare Banking in Europe, Middle East, Africa and Asia-Pacific region, has left Switzerland’s biggest bank after 25 years at the firm.
2/23/12 (UK) Goldman Sachs Nordic M&A banker Luca Ferrari has decided to retire from the firm, clients included the largest telecommunications operator in Spain the Spanish telecommunications.
2/23/12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank
2/23/12 (SCOTLAND) Royal Bank of Scotland Group director John McFarlane resigns.
2/24/12 (GUERNSEY) Spearpoint Limited (SPL) Investment Funds, director Mike Kirby resigns for business reasons.
2/24/12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns
2/24/12 (HONG KONG) Citigroup Pvt Bank Global Real Estate Kwang Meng Quek Resigns
2/24/12 (NEW ZEALAND) FSF Executive Director Kirk Hope resigns
2/24/12 (USA NY) Evercore Partners Head Eduardo Mestre steps down
2/25/12 (AUSTRALIA AND NZ) Goldman Sachs Chairman Stephen Fitzgerald quits
2/25/12 (DENMARK) European Investment Bank (EIB), Mr Sigmund Lubanski, of the Kingdom of Denmark tendered his resignation.
2/27/12 (GERMANY) Deutsche Bank Americas chief Seth Waugh steps down
2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim quits
2/27/12 (BAHRAIN) – Mumtalakat Holding [Sovereign Wealth Fund] CEO Al Zain resigns
2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel Péretié Steps Down
2/27/12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns
2/27/12 (GERMANY) Equiduct chairman Artur Fischer steps down
2/27/12 (IRAN) Bank Melli CEO Mahmoud Reza Khaavari Resigns – Flees to Canada!
2/27/12 (IRAN) Bank Saderat CEO Mohammad Jahromi resigns
2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down
2/27/12 (SINGAPORE) Standard Chartered Bank, global head of repo and collateralised financing Tanweer Khan resigned.
2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee quits
2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits
2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits, cites health reasons
2/28/12 (HONG KONG) Bank of America’s Asia-Pac. mrkts Brian Canniffe quits
2/28/12 (BELGIUM) KBC’s CEO Jan Vanhevel is to retire after a career spanning 41 years.
2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits
2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft
2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires
2/28/12 (SOUTH AFRICA) REDEFINE INCOME FUND director Gerald Leissner resigns
2/28/12 (ITALY) UNICREDIT: Chairman Dieter Rampl not available for a new 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
2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc Director Keith Walsh resigns
2/29/12 (AUSTRALIA) Perpetual portfolio manager Matt Williams steps down
2/29/12 (UK) Honister Capital CEO Richard Pearson steps down
2/29/12 (GUYANA) National Investment and Commercial Investments Ltd. (NICIL), Executive Director Winston Brassington resigns, “We feel that (Winston) Brassington knows everything…A to Z about all the transactions,” said Chairman of the Alliance for Change (AFC), Khemraj Ramjattan, as he sounded a warning that controversial figure could be subpoenaed to appear before the Parliamentary Economic Sector Committee. http:// goo.gl/L7I35 3/01/12 (MALAYSIA) RHB Bank Bhd deputy managing director Renzo Viegas quits
3/01/12 (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.
3/01/12 (USA FL) Florida Venture Forum [Venture Capital] Exec Dir Robin Lester quits
3/01/12 (USA NY) 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
3/01/12 (SINGAPORE) UBS Singapore – James Tulley is leaving Switzerland’s largest bank, it is not clear where he is going.
3/01/12 (USA NH) Piscataqua Savings Bank CEO Jay Gibson retires
3/01/12 (ICELAND) Iceland’s Financial Supervisory Authority (FSA) fired its director Gunnar Andersen
3/01/12 (USA OR) Oregon Public Employees Retirement Fund (OPERF) senior RE officer Brad Child will retire
3/02/12 (CHINA) China Construction Bank Corp, assistant general manager and head of corporate banking Mickey Mehta quits
3/02/12 (USA NY) Deutsche Bank Student Loan CEOJohn Hupalo quits to start student loan counseling firm.
3/02/12 (UK) Bank of England Sir Mervin King resigns in June, Lord Sassoon tipped as replacement.
3/02/12 (BOTSWANA) Barclays Bank Botswana managing director Wilfred Mpai forced to resign
3/02/12 (HONG KONG) New Century Group Hong Kong Ltd [investment house and leisure group] Wilson Ng resigns
3/02/12 (USA NY) Citigroup Richard Parsons to step down as chairman
3/03/12 (AUSTRIA) Volksbank AG (VBAG) The contract of CEO Gerald Wenzel will not be extended
3/03/12 (ETHIOPIA) Dashen Bank’s board dismisses president Leulseged Teferi
3/03/12 (RUSSIA) Enza Capital KK, Wealthy British banker Philip Townsend (Baron Townsend of Rathmore) and his wife killed at Estonia holiday home ⑆44541444⑈
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3/04/12 (KOREA) Hana Financial Group Inc, prominent figure in the history of South Korean finance Kim Seung-yu , resigns
3/04/12 (USA NY) JP Morgan prop trading chief Mike Stewart quits
3/05/12 (SAUDI ARABIA) Al Rajhi Bank CEO Abdullah bin Sulaiman Al Rajhi has resigned
3/5/12 (UK) Jupiter fund co-manager Tony Nutt steps down
3/05/12 (UK) Jupiter fund co-manager John Hamilton steps down
3/05/12 (NEW ZEALAND) Insured Group Bill Jeffries has resigned as chairman and director
3/05/12 (USA) Reliance Bancshares chairman Patrick Gideon resigned
3/05/12 (UK) Charterhouse partner Gordon Bonnyman is stepping down.
3/05/12 (UK) HgCapital, partner Lindsay Dibden is leaving after 20 years.
3/06/12 (FRANCE) Blackstone Group’s Paris office leader Jean-Michel Steg will step down
3/06/12 (JAMAICA) Jamaica Money Market Brokers Limited, Patricia Sutherland has resigned as Executive Director
3/06/12 (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.
3/06/12 USA CT) Wells Fargo & Co. said that Mackey McDonald, one of the last remaining directors from Wachovia is retiring.
3/06/12 (USA PA) 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. Provides a network of wireless non-cash transactions, associated financial/network services and energy management. It provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.
3/06/12 (UK) Sterling Green Group has announced that Philip Kanas, a non-executive director, has decided to resign Sterling Green Group PLC became a cash shell following the disposal of their subsidiaries Taxdebts Ltd, Sterling Green (Mortgages) Ltd and the back books of the clients of Sterling Green Ltd. during December 2011.
3/06/12 (UK) Aberdeen Asset Management, non-executive director Gerhard Fusenig has resigned from the board.
3/07/12 (GERMANY) Deutsche Bank AG’s (DB) Chief Risk Officer Hugo Baenzigeri to resign
3/07/12 (GERMANY) Deutsche Bank AG’s (DB) Chief Operating Officer Hermann-Josef Lamberti to resign
3/07/12 (UNITED ARAB EMIRATES) Dubai Mercantile Exchange announced Thomas Leaver will step down as CEO
3/07/12 (SCOTLAND) Macfarlane Group Chairman Archie Hunter to step down after 8 years of service
3/07/12 (USA) BlackRock Emerging Markets Fund co-head Daniel Tubbs, has left the group to pursue other opportunities.
3/07/12 (UK) Goldman Sachs (GSI) Christopher French resigns from board
3/07/12 (UK) Goldman Sachs (GSI) David Wildermuth resigns from board
3/07/12 (UK) Goldman Sachs (GSI) Matthew Westerman resigns from board
3/07/12 (UK) Goldman Sachs (GSI) co-head of global mergers and acquisitions Yoel Zaoui resigns
3/07/12 (UK) Goldman Sachs (GSI) Phil Beatty resigned as head of European power and natural-gas trading
3/07/12 (SINGAPORE) Nikko Asset Management Timothy McCarthy is retiring as chairman and CEO at the end of the month
3/07/12 (HONG KONG) UBS Senior Asia Economist Jonathan Anderson Departs
3/07/12 (HAITI) FORMER DIRECTOR HAITI CENTRAL BANK SLAIN! ⑆44541444⑈
3/07/12 (FRANCE) Société Générale Private Banking, Daniel Truchi is to step down as head of Société Générale Private Banking
3/07/12 (AUSTRALIA) Customers Ltd, Tim Wildash has cashed himself out as chief executive of Australia’s largest ATM operator
3/07/12 (USA CA) CALSTRS, Pascal Villiger, senior private equity portfolio manager at the $145 billion California State Teachers’ Retirement System resigns
3/07/12 (USA) Astaire quits Bank of America Merrill to dance to Barclays Capital’s tune
3/08/12 (USA NY) Schroders, CIO Alan Brown is steps down
3/08/12 (USA IL) CBOE Executive Patrick Fay Put on Leave Amid SEC Probe
3/08/12 (USA NH & RI) Bristol County Savings Bank president E. Dennis Kelly retires after 35 years
3/08/12 (GERMANY) Clearstream Banking AG – Katja Rosenkranz To Leave Deutsche Börse Group [stockmarket]
3/08/12 (UK) B&CE CEO Brian Griffiths is to retire later this year
3/08/12 (UK) Invesco Trimark Ltd, portfolio manager Dana Love has resigned.
3/08/12 (ISRAEL) Bank of Israel Governor Stanley Fischer will hand in his shock resignation in the coming days and take up a new position as head of the Bank of Zambia. Finance Minister Yuval Steinitz is believed to be furious with Fischer’s decision. Treasury officials said he even canceled his participation in the office’s annual Purim party in order to convince Fischer to reverse his decision.
3/08/12 (SOUTH AFRICA) Standard Bank Group Limited (SBK), board member Sir Paul Judge retires.
3/08/12 (SOUTH AFRICA) Standard Bank Groupl Limited (SBK), board member Sir Sam Jonah retires.
3/09/12 (MONGOLIA) Mongol Bank President Alag Batsukh submitted his resignation letter to Speaker of Parliament D. Demberel at the end of last month. He described his reason for resigning as a lack of support by Parliament.
3/09/12 (MONGOLIA) Asia Pacific Securities, General Manager Narantuguldur Saijrakh recently resigned, to focus on his role as Director of Khan Investment Management, investment advisor to the Khan Mongolia Equity Fund – the first open-ended investment vehicle with monthly dealing that invests in Mongolia related equities listed both domestically and internationally.
3/09/12 (Côte d’Ivoire) Banque Central des Etats d’Afrique de l’Ouest (BCEAO) The Ivorian governor of the multi-billion dollar West Africa Francophone bank, Philippe-Henry Dacoury-Tabley, resigned his post.
3/09/12 (UK) Lazard , co-head of investment banking Alexis de Rosnay quits. De Rosnay specialises in the healthcare sector, he has advised Teva Pharmaceutical and Novartis.
3/09/12 (UK) Deutsche Bank PWM, UK head of portfolio management Martyn Surguy resigned.
3/09/12 (UK) Deutsche Bank PWM, head of discretionary management, Kypros Charalambous, having also stepped down.
3/09/12 (HONG KONG) Bank of America Merrill Lynch, K.J. Kim, responsible for Southeast Asia, resigned
3/09/12 (HONG KONG) Bank of America Merrill Lynch, Jimmy Choi, who was in charge of high-yield debt, resigned.
3/09/12 (HONG KONG) Bank of America Merrill Lynch, Leonard Ng, a vice-president in Hong Kong resigned.
3/09/12 (AUSTRALIA) Bank of Queensland CFO Ram Kangatharan plans to leave the bank.
3/09/12 (USA) Cerberus Capital Management LP, CEO Robert Nardelli resigns.
3/10/12 (AUSTRALIA) WESTPAC, Rob Chapman opted to quit running its regional subsidiary St George Bank.
3/10/12 (TURKEY) Garanti Bank, The deputy CEO of Turkish lender Tolga Egemen, has decided to quit.
3/10/12 (CHINA) Korea Development Bank, Shanghai unit senior manager Stella Wen resigned.
3/10/12 (HONG KONG) Deutsche Bank, Johan Sudiman resigns as director.
3/12/12 (USA) John Lewis Partnership Pension Trust, head of investments Andrew Chapman, resigns
3/12/12 (USA CA) California’s Department of Financial Institutions, commissioner William Haraf resigned. The DFI did not say why he is leaving.
3/12/12 (KUWAIT) Gulf Bank, Chairman Ali Rashaid Al Bader quits
3/12/12 (UK and IRELAND) Allfunds Bank, head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.
3/12/12 (USA) ICAP, CEO of the electronic broking business David Rutter step down following a restructuring of the business.
3/12/12 (UK) SVG Capital, chairman Nicholas Ferguson resigns. His departure left him well placed to succeed James Murdoch as chairman of BSkyB should the latter bow to investor pressure and step down. Other investors in the satellite broadcaster suggested Ferguson might be seen as too close to Murdoch to win the support of institutional shareholders.
3/12/12 (SOUTH AFRICA) The Development Bank of Southern Africa (DBSA), CEO Paul Baloyi resigns.
3/12/12 (USA) Lehman Brothers Holdings Inc, CEO Bryan Marsal Resigns Title, Remains on as Adviser
3/12/12 (USA IL) CME Group Inc, CEO Craig Donohues will step down at year end.
3/13/12 (USA) Eaton Vance Corp, Treasurer and CFO Robert J. Whelan has stepped down.
3/12/12 (USA IL) CBOE Holdings Inc. (CBOE), senior compliance executive Patrick Fay has resigned. The options exchange being investigated by the Securities and Exchange Commission, Fay had been placed on leave after the SEC began investigating the options-market operator’s oversight of traders.
3/13/12 (USA) Mithras Investment Trust, chairman Mike Wooderson will step down
3/13/12 (USA) PHH Mortgage, President Luke Hayden resigned from to pursue what the company calls “other interests.”
3/13/12 (USA) PHH Mortgage, Treasurer Mark Johnson.resigned
3/13/12 (AUSTRALIA) WESTPAC, head of corporate affairs after David Bell decided to step down from the role. Bell is the latest top executive to leave the bank.
3/13/12 (UK) Capula’s Systemic Trading Head Qiang Dai to Leave Fund
3/13/12 (UAE) National Bank of Abu Dhabi, CEO Michael Tomalin, will retire from the post in a few months.
3/13/12 (ISRAEL) Osem Investments Ltd, CEO Gazi Kaplan has tendered his resignation, effective April 2, citing heath reasons. Nestlé SA owns 58.8% of Osem.
3/13/12 (USA) Paulson & Co.’s, partner and head of the global bank team Robert Lacoursiere has quit to form his own hedge fund
3/13/12 (AUSTRALIA) ASX Ltd, Chairman David Gonski will step down from his role at Australia’s main stock market operator after being appointed to oversee almost A$90 billion ($95 billion) in the nation’s sovereign-wealth funds.
3/13/12 (UK) JP Morgan, Asset Management European chief Jamie Broderick is to step down more than 20 years at the firm.
3/13/12 (UK) SVG Chairman Nicholas Ferguson retires.
3/13/12 (UK) SVG Director Edgar Koning retires.
3/13/12 (UK) SVG Director Denis Raeburn retires.
3/13/12 (UK) SVG Director Francis Finlay retires.
3/14/12 (UK) Goldmand Sachs, executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa, Greg Smith, is resigning today.
3/14/12 (SOUTH AFRICA) ABSA chairman Garth Griffin to retire