Banks, Resignation | featured news

Michalis Sarris resigned after announcing the final terms of a bailout for the nation’s banking system that imposed heavy losses on bank depositors in return for aid.

Antreas Artemis, the chairman of Bank of Cyprus, contended that he and the bank's board were not consulted in bailout negotiations that would impose large losses on depositors.

Former chief executive of Citigroup Vikram Pandit receives $15m after resigning from the banking giant last month.

An executive resigning from the investment bank Goldman Sachs says other executives there referred to clients as "muppets." Greg Smith wrote a blistering essay about the company that was published Wednesday in The New York Times.

The head of Swiss banking giant UBS Oswald J. Gruebel has resigned in the wake of a $2.3 billion loss in unauthorized trading, the bank announced Saturday.

A top board member of the European Central Bank unexpectedly resigned on Friday in what analysts saw as further evidence of the deep divisions over how to resolve Europe’s growing debt crisis. The move immediately rattled European markets and the euro, which slipped to a six-month low against the dollar. The European Stoxx and German DAX indexes tumbled 3.5 percent.