Here are the recent resignations in chronological order:
February 6, 2012: Dhanlaxmi Bank CEO Amitabh Chaturvedi quits
February 10, 2012: Tamilnad Mercantile Bank MD resigns
February 13, 2012: Kuwait central bank chief resigns amid political tensions
February 14, 2012: Nicaragua’s Central Bank President Antenor Rosales quit admist row
February 15, 2012: Slovenia’s Two Biggest Banks’ CEOs Step Down
February 15, 2012: World Bank President Zoellick Resigns
February 16, 2012: CFO of ANZ Bank Resigns Amid Turmoil
February 16, 2012: Royal Bank of Scotland’s Stephen Williams quits the role
February 17, 2012: Credit Suisse’s Private Bank Chief Asian Economist Tan Resigns
That’s 9 resignations in eleven days, we have not included the other resignations from the likes of the head of the central bank in Switzerland a month ago, and the talk of the head of Goldman Sachs leaving. Why are the heads of very large financial instutitions resigning? Corporate governance experts would say that people resign to make room for new policies, but this is a peculiar situation of contagion amongst those with key exposure.
The first to see the flame usually leave the building first…maybe this is not the case, nonetheless, such events with obvious patterns should be taken note of.
And many, many more: