Financial world shaken by 4 bankers' apparent suicides in a week (1 Viewer)

[bosoxs45]

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The apparent suicide death of the chief economist of a US investment house brings the number of financial workers who have died allegedly by their own hand to four in the last week.

50-year-old Mike Dueker, who had worked for Russell Investment for five years, was found dead close to the Tacoma Narrows Bridge in Washington State, says AP.

Local police say he could have jumped over a fence and fallen 15 meters to his death, and are treating the case as a suicide.

Dueker was reported missing by friends on January 29, and police had been searching for him.

A Sheriff’s spokesman said investigators learned that he was having problems at work but did not elaborate.

Jennifer Tice, a company spokeswoman declined to comment, however said, that Dueker was in good standing at Russell.

“We were deeply saddened to learn today of the death,” Tice said in an e-mail on Friday. “He made a valuable contributions that helped our clients and many of his fellow associates.”

Dueker joined Russell Investment in 2008. He wrote for Market Outlook financial services publications, forecasting the business cycle and the target federal funds rate. He is the creator and developer of a business cycle index that forecast economic performance published monthly on the Russell website.

He was previously an assistant vice president and research economist at the Federal Reserve Bank of St. Louis, and is ranked in the top 5 percent of published economists.

Over the past two decades he wrote tens of research papers mostly on monetary policy, according to the bank’s website.

His most-cited paper was “Strengthening the case for the yield curve as a predictor of U.S. recessions,” published in 1997 while he was a researcher at the Federal Reserve.

“He was a valued colleague of mine during my entire tenure at the St. Louis Fed,” said William Poole, the bank's ex-president. “Everyone respected his professional skills and good sense.”

Dueker held an undergraduate degree in math from the University of Oregon, a master’s degree in economics from Northwestern University and a Ph.D. from the University of Washington.

Streak of bankers’ deathsDueker’s apparent suicide was the fourth among financial experts in a week.

A 58-year-old former senior executive at Deutsche Bank AG, William Broeksmit, was found dead on January 26 in his home after an apparent suicide in South Kensington in central London.

The next day, January 27, Tata Motors managing director Karl Slym, 51, was found dead on the fourth floor of the Shangri-La hotel in Bangkok. Police said he could have committed suicide. Mr. Slym was staying on a 22th floor with his wife, and was attending a board meeting in the Thai capital.

Another tragic incident occurred on January 28, when a 39-year-old Gabriel Magee, a JP Morgan employee, died after falling from the roof of its European headquarters in London.

The offices of JP Morgan in the Canary Wharf district of London (Reuters/Simon Newman)
While creating fortunes, City and Wall Street jobs are notorious for extra-long working weeks and huge amounts of stress. In a move to ease the tension some of the world’s biggest lenders like Bank of America, Goldman Sachs, JP Morgan and Credit Suisse have been telling junior staff to take more time off.

Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.

 

[The_Man]

Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.

This is the most shocking part of the entire story

 

[Binky The Doormat]

These don't sound much like suicides - seems like they just got pushed. International justice committee?

 

[Homer J Simpson]

This a LeCarree novel?

 

[T Bell]

I like ice cream.

 

[Sarnoff]

Goldman Sachs cleaning up some messes around the globe.

 

[Rove!]

 

[McGarnicle]

Sheesh, that is concerning...just 4?

 

[LinusMarr]

Illuminati.....

 

[The_Man]

Sounds like Season 1, Episode 1 of "Sherlock"

 

[Scoresman]

Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.

This is the most shocking part of the entire story

I spend about 8-10 hours a week working and the other 30 hours here and I do excellent work Not shocking to me. Europeans also get months of vacation/sick/holiday time. They really know how to work to live over there whereas over here it's the opposite. You're judged on how many hours you put in. Such bull####.

 

[ffldrew]

Jamie Dimon - stone cold assassin

 

[humpback]

Wow is that an awful piece of "journalism".

 

[dgreen]

How many usually kill themselves in a week?

 

[RUSF18]

"A good start!"

 

[Long Ball Larry]

wasn't there a movie or tv show that started this way?

edit: I guess I'm thinking of Rubicon.

 

[Binky The Doormat]

Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.

This is the most shocking part of the entire story

I spend about 8-10 hours a week working and the other 30 hours here and I do excellent work Not shocking to me. Europeans also get months of vacation/sick/holiday time. They really know how to work to live over there whereas over here it's the opposite. You're judged on how many hours you put in. Such bull####.

Are you also planning on jumping out of your building?

 

[Bankerguy]

It's OK EVERYONE I'M ALRIGHT.

 

[Clifford]

Jimmy Casino wasn't kidding...

 

[Rove!]

9 die in fire destroying Argentine bank archives

http://www.washingtonpost.com/business/7-die-in-fire-destroying-argentine-bank-archives/2014/02/05/7c489abc-8e70-11e3-878e-d76656564a01_story.html?tid=auto_complete

The cause wasn’t immediately clear. Berni said the company’s on-site firefighters shared some details with authorities, and Iron Mountain said it too will investigate.

“All of this will end up in court,” Berni said, declining to make any details public.

 

[Scoresman]

Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.

This is the most shocking part of the entire story

I spend about 8-10 hours a week working and the other 30 hours here and I do excellent work Not shocking to me. Europeans also get months of vacation/sick/holiday time. They really know how to work to live over there whereas over here it's the opposite. You're judged on how many hours you put in. Such bull####.

Are you also planning on jumping out of your building?

The windows don't open.

 

[Joe Summer]

More accurate headline: "Four unrelated people die from unrelated causes"

 

[Rove!]

http://www.scmp.com/business/banking-finance/article/1430296/man-leaps-death-jp-morgans-headquarters-central

Investment banker jumps to death from JP Morgan’s headquarters in Central

 

[Sarnoff]

Up to eight

Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta

was found dead in her Singapore apartment on Feb. 28.

Local media are calling it a suicide, but Singapore officials are waiting for toxicology test results. Ratke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.

Ratke’s death brings the number of questionable financial sector deaths this year to eight. On Feb. 18 a 33-year-old JPMorgan finance pro leaped to his death the roof of the JPMorgan’s 30-story Hong Kong office tower.

Li Junjie’s suicide marked the third mysterious death of a JPMorgan banker. So far, there is no other known link between any of the deaths.

Gabriel Magee, 39, a vice president with the JPMorgan’s corporate and investment bank technology arm in the UK, also jumped to his death from the roof of the bank’s 33-story Canary Wharf tower in London on Jan. 28.

On Feb. 3, Ryan Henry Crane, 37, a JPM executive director who worked in New York, was found dead inside his Stamford, Conn., home.

A cause of death in Crane’s case has not be determined until a toxicology report is complete, according to a spokesperson for the Stamford detectives division.

The report is expected within two weeks.

 

[Rohn Jambo]

Could be murders.

 

[Dr. Gobbler]

Only 46,314 to go.

 

[sporthenry]

Only 46,314 to go.

I figured you'd be defending the financial world. Seems like taking other people's money is up your alley.

 

[AAABatteries]

Could be murders.

Nice work, Columbo.

 

[SofaKings]

Rothschild's have been busy.

 

[Fat Nick]

Some European countries like Belgium and the Netherlands have reduced the working week from 40 to 30 hours without damaging their economies, while in Germany an average worker puts in 35 hours a week and is the world’s fourth largest economy.

This is the most shocking part of the entire story

I spend about 8-10 hours a week working and the other 30 hours here and I do excellent work Not shocking to me. Europeans also get months of vacation/sick/holiday time. They really know how to work to live over there whereas over here it's the opposite. You're judged on how many hours you put in. Such bull####.

Amen.

I work probably 50 hours in a normal week, 60-65 when we're in the middle of a close, and I'm considered to work fewer hours than most of my colleagues. I could easily take a day off and get my work done in all but the busiest of times, but I sit on here and kill time because of peer pressure. I'm VERY efficient, and build most of my repeatable tasks to be as automated as possible. There is one guy in our group who works obscene hours (i.e. he was just on a call from 2:00 AM until 11:00 AM with Europe, and is now working a full EST timezone day). People view him as such a hard worker, when in reality, he's just horrible with managing his time and not efficient.

Hours worked is also very end-of-day biased. Come in at 6 and leave at 4 and you're viewed as a slacker...Come in at 9 and stay till 7, and you're a hard worker.

Thank god my boss is from Colombia, and previously worked in Spain. He gets work-life balance. He actually gave me praise in my review for NOT working obscene hours like everyone else.

 

[Sand]

Goldman Sachs Haliburton cleaning up some messes around the globe.

 

[Rove!]

another one:

http://nypost.com/2014/03/12/trader-throws-self-in-front-of-train-in-finance-worlds-latest-suicide/

A Manhattan trader was killed Tuesday morning by a speeding Long Island Rail Road commuter train, marking at least the seventh suicide of a financial professional this year.

Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, jumped in front of an LIRR train at 6 a.m. near the Syosset train station.

 

[Rove!]

...and another

http://nypost.com/2014/03/17/investment-banker-leaps-to-his-death/

A 28-year old Manhattan investment banker has died in an apparent suicide, police sources said.

Kenneth Bellando, who worked at Levy Capital since January, was found dead on the sidewalk outside his East Side building on March 12 after allegedly jumping from the sixth-story roof, sources said.

Bellando, a former investment bank analyst at JPMorgan, is the son of John Bellando, chief operating officer and chief financial officer at Condé Nast. His brother, John, a top chief investment officer with JPMorgan, works on risk exposure valuations.

Several John Bellando emails were cited during testimony at the Senate Finance Committee’s inquiry into the bank’s losses during the infamous London Whale trade fiasco

 

[T Bell]

financial world>wait