Another coop bank boss falls on his sword

This ring any bells?

“I fully understand the public outrage…  I wish to give a crystal clear signal on behalf of the bank and on behalf of the Board.  The Board deeply regrets that this happened and that this could have happened. It is all the more so because this type of culture and behaviour no way fits the standards and values ​​of a cooperative bank That’s why I decided today to resign as Chairman of the Board of Directors. “

No,  not our own Co-operative Bank.  This was the statement put out yesterday by Pier Moerland in resigning as head of the Dutch cooperative bank Rabobank over the massive fine levied for Libor interest rate fixing, the story I covered in my blog last week.

Not a good period in the cooperative banking sector at the moment.

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