If one didn’t know better, one would almost certainly think that something huge was about to happen in the world of banking and finance.
Over the past few weeks, a slew of high-level resignations have occurred around the world.
On Wednesday, World Bank President Robert Zoellick said he would be stepping down, raising the possibility that a non-American might be selected to head the 187-nation lending organization for the first time in history.
Zoellick, 58, informed the board he would depart on June 30 at the end of a five-year term, during which he led the bank’s response to the global financial crisis.
In addition to Zoellick:
- ANZ Bank CFO Peter Marriott announced that he would resign
- Nicaragua Central Bank President Antenor Rosales has resigned
- Credit Suisse chief Joseph Tan resigned
- German President Christian Ruff has resigned
- Royal Bank of Scotland‘s Austrailian CEO Stephen Williams resigned
- Kuwait Central Bank CEO Sheik Salem Abdulaziz Al Sabah, a member of the Gulf nation’s ruling family, has resigned
- The CEOs of Slovenia’s TWO top banks have both resigned. Andrej Plos, the chief executive officer of Nova Kreditna Banka Maribor, resigned, as did, Bozo Jasovic, the CEO of the larger Nova Ljubljanska Banka.
- Bank of India CEO Amitabh Chaturvedi has resigned
- A. K. Jagannathan, chief executive at Tamilnad Mercantile Bank, resigned
On top of all this, there is an unconfirmed rumor swirling about that, despite his previous statements to the contrary, Goldman Sachs Chairman and Chief Executive Lloyd Blankfein may be about to step down as well.
Is the Eurozone financial crisis to blame for this onslaught of resignations or are we instead seeing a sweeping regime change unfold with regard to who controls the majority of the world’s finances?
One thing is for certain – something big is happening…a changing of the guard of epic proportions.
It will be interesting to see how this plays out.
Grab some popcorn, this should be good.