so many bankers resigns this year... Shocker at Citigroup as CEO Vikram Pandit Abruptly Resigns

I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately. The departures come just one day after the big bank reported what was generally regarded as a strong quarter, sending the stock higher by 5% in Monday trading. Pandit also stepped down from Citi's Board of Directors.

This departure marks the end of a controversial and often troubled tenure. Pandit first came on the scene at Citigroup in July of 2007 when his hedge fund, Old Lane Partners LP, was bought for $800 million. Pandit reportedly pocketed $165 million for his portion of the company. Named CEO in December of 2007, Pandit steered Citi through the worst financial crisis since the Great Depression. The company's stock has fallen some 90% since he took the corner office, underperforming most of the industry. finance.yahoo.com... over 200 bankers resigned this year alone thats alot link here www.abovetopsecret.com...

Originally posted by q13ert
I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately. The departures come just one day after the big bank reported what was generally regarded as a strong quarter, sending the stock higher by 5% in Monday trading. Pandit also stepped down from Citi's Board of Directors.

This departure marks the end of a controversial and often troubled tenure. Pandit first came on the scene at Citigroup in July of 2007 when his hedge fund, Old Lane Partners LP, was bought for $800 million. Pandit reportedly pocketed $165 million for his portion of the company. Named CEO in December of 2007, Pandit steered Citi through the worst financial crisis since the Great Depression. The company's stock has fallen some 90% since he took the corner office, underperforming most of the industry.

Link Please.....

Des

This nonsense pops up about every six months.

How many high level bankers are in the world?

On average, what is their turnover rate?

Yep, you're just buying into fear-mongering.

Originally posted by Destinyone

Originally posted by q13ert
I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately. The departures come just one day after the big bank reported what was generally regarded as a strong quarter, sending the stock higher by 5% in Monday trading. Pandit also stepped down from Citi's Board of Directors.

This departure marks the end of a controversial and often troubled tenure. Pandit first came on the scene at Citigroup in July of 2007 when his hedge fund, Old Lane Partners LP, was bought for $800 million. Pandit reportedly pocketed $165 million for his portion of the company. Named CEO in December of 2007, Pandit steered Citi through the worst financial crisis since the Great Depression. The company's stock has fallen some 90% since he took the corner office, underperforming most of the industry.

Link Please.....

Des

Superelite rat Pandit abandons sinking ship

Yahoo Link

It's the end of the world as we know it, and i feel fine.

Time to head off into the sticks soon, i'm prepared.

Their both not very old, both are around 55 years of age. Wonder what would cause them to leave a job and company that is going so well so far?

Okey, I'll say it. 12/21/12 they're heading for the bunkers.
Any heads of industry suddenly retiring or resigning?

A bunch of them got appointed to a lush position by Obama our were hired to join his administration.

reply to post by Chance321


Why would anyone need to retire to run to a bunker? They could just take a few days off and hide, unless it has something to do with the banking world. Then even I would cut all ties and run and hide if I was them.

Originally posted by moniesisfun
This nonsense pops up about every six months.

How many high level bankers are in the world?

On average, what is their turnover rate?

Yep, you're just buying into fear-mongering.

That's not true at all. There was a thread, that I will try to find, that showed a graph of the turnover rate of high end employees. These were executives/CEOs and the like. The quit rate skyrocketed by over 500% or something similar. I am not looking at the graph so, just let me find it before you quote me on the numbers.

The graph went back to about 10-12 years ago. The graph as at a slight incline that probably kept up with job growth so that it was the same percentage of people quiting compared to the total number of jobs. This as until VERY recently.


EDIT:

Massive Wave of Resignations (Addendum to Main Thread)

So the numbers went back to 2Q 2008.. about 2,000 people every quarter were turned over. Until 3Q 2011 when about 2,800 people quit. Then 4Q 2011 we see 7,000 people quit. Then in 1Q 2012 we see 18,000 people quit. In a period of about 9 months we see a 900% increase in resignations... So does this not send up any red flags for you now??

These are all financial sector..

Originally posted by LordOfArcadia Scrolly Scroll to the right..


Numbers based on this:

Originally posted by LordOfArcadia
Then I had an idea. The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever a member of the Board or certain officers resign. Also, the SEC has a database named EDGAR that is open to the public. After a little research, I discovered that corporations must report said resignations on Form 8-K, Item 5.02. From there, it was a simple matter of searching only Form 8-Ks within a specific range of dates, and including the boolean search terms "Resigns" and "Resignation".

reply to post by Dustytoad


I stand partially corrected. The thing is, these fear-mongering threads on this very topic have been going on for YEARS, not just in the last year or so.

reply to post by Dustytoad


I saw that topic as well, it seemed odd even then. I do worry over the fact that it's not just one nation that all the people are leaving their jobs from. If it was just one nation and one finical to crash out, there is at least a chance for a buffer from other countries. But this is happening all over the world and the chance for a buffer is getting smaller and smaller.

Originally posted by moniesisfun
This nonsense pops up about every six months.

How many high level bankers are in the world?

On average, what is their turnover rate?

Yep, you're just buying into fear-mongering.

Oh no! Someone resigned from a bank and its discussion on ATS is scaring the bleeding hella out of me!!!!

Thank you for your kind reassuring words of comfort and solace at this distressing and frightening news!

Where would I be today without the generous calm of those who identify such fear mongering ATS threads!?

reply to post by surrealist


The title of this thread is:

so many bankers resigns this year... Shocker at Citigroup as CEO Vikram Pandit Abruptly Resigns,

The first sentence of the OP reads:

I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately.

You failed to provide adequate context for an intelligible counter.

It most certainly is fear mongering.