Business, News, Top Story

Banker’s Sudden Resignation Sparks Mounting Speculation

By VOICE Reporter

Social media is rife with growing speculation, following the sudden resignation earlier this week of Managing Director of 1st National Bank, Johnathan Johannes.

Johnathan Johannes
Johnathan Johannes

Neither the MD, nor the bank, have explained the surprise resignation by the institution’s top boss, but Facebook is loaded with comments congratulating him and commending him for a job well done.

Johannes has remained silent on the matter, but an interesting post has appeared on his Facebook Page, saying: “You must find the courage to leave the table if respect is no longer being served.”

The page offered no explanation why he suddenly quit, but the quote was followed by comments wishing Mr Johannes well and expressing confidence he’ll land another big appointment elsewhere soon.

However, The VOICE understands from a usually-reliable source that “It may have to do with Mr Johannes having been asked by the Board of Directors to take his accumulated outstanding leave…”

The source was not in a position to say why the Board asked the Managing Director to take his “outstanding leave”, only saying: “If he did, he would have been away from his desk until February 2022, while someone else kept his seat warm.”

Meanwhile, in the absence of any explanation from anyone involved at the bank, the speculation continues to mount over why the Board of Directors of any bank would ask its Chief Executive to proceed on leave.

Under Johannes’ watch, 1st National Bank made many forward strides, including being the first to introduce several new services like online banking and extending the bank’s interests at home and abroad, winning regional awards and accolades almost annually.

1st National Bank’s biggest recent venture was acquisition of the local interests of the former Royal Bank of Canada, the first time a local bank has acquired the interests of an international brand.

Mr Johannes was not known to have had any personal differences with the Board, leaving as a complete mystery, the reason that caused him to post that quote on his Facebook Page suggesting that “respect is no longer being served…”

Meanwhile, as The VOICE went to press last night, the bank’s news blackout continued without any word from the Board of Directors on the MD’s sudden, silent departure.

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