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Deutsche Bank-er Explains Why He Committed Suicide

Tyler Durden's picture




 

The dismal list of financial executive deaths has recently increased to 11 in the last few months. Speculation has surrounded many of these deaths (and suicides) as to the reasoning; none more than the first - William Broeksmit, an executive who worked in Deutsche Bank's risk function and advised senior leadership who hanged himself in his South Kensington home in late January. However, as the WSJ reports, we now know why this poor man felt compelled to take his own life: he was "anxious about various authorities investigating areas of the bank where he worked" (and yes, we are well aware of the grammatical and temporal impossibilities suggested by this article's title).

Via WSJ,

While a Deutsche Bank spokeswoman said Tuesday that "Bill was not under suspicion of wrongdoing in any matter," according to statements read at a coroner's inquest in London, the former senior executive at Deutsche Bank, who committed suicide in late January, was concerned about investigations into the German bank.

 

William Broeksmit, an executive who worked in the bank's risk function and advised the firm's senior leadership, was "anxious about various authorities investigating areas of the bank where he worked," according to written evidence from his psychologist, given Tuesday at an inquest at London's Royal Courts of Justice.

 

Mr. Broeksmit, an American born in Chicago who retired from Deutsche Bank in February 2013, hanged himself at his London home on Jan. 26, according to a statement read at the coroner's inquest.

 

...

 

A close colleague of Deutsche Bank co-Chief Executive Anshu Jain, Mr. Broeksmit was expected to be appointed the bank's chief risk officer in 2012, but the move was vetoed by BaFin, the German financial regulator, because of a lack of suitable experience, people familiar with the matter said at the time.
...

Ms. Wilcox, citing written medical evidence from Mr. Broeksmit's doctor and psychologist, said the executive was sleeping badly during the summer of 2013, and his "self-esteem had been greatly undermined." He was also trying to stop smoking cigars and his alcohol intake was high, according to a medical report.

Here are all the recent untimely financial professional deaths we have witnessed in recent months:

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

 

2 - Karl Slym, 51 year old Tata Motors managing director Karl Slym, was found dead on the fourth floor of the Shangri-La hotel in Bangkok on January 27th.

 

3 - Gabriel Magee, a 39-year-old JP Morgan employee, died after falling from the roof of the JP Morgan European headquarters in London on January 27th.

 

4 - Mike Dueker, 50-year-old chief economist of a US investment bank was found dead close to the Tacoma Narrows Bridge in Washington State.

 

5 - Richard Talley, the 57 year old founder of American Title Services in Centennial, Colorado, was found dead earlier this month after apparently shooting himself with a nail gun.

 

6 - Tim Dickenson, a U.K.-based communications director at Swiss Re AG, also died last month, however the circumstances surrounding his death are still unknown.

 

7 - Ryan Henry Crane, a 37 year old executive at JP Morgan died in an alleged suicide just a few weeks ago.  No details have been released about his death aside from this small obituary announcement at the Stamford Daily Voice.

 

8 - Li Junjie, 33-year-old banker in Hong Kong jumped from the JP Morgan HQ in Hong Kong this week.

 

9 - James Stuart Jr, Former National Bank of Commerce CEO, found dead in Scottsdale, Ariz., the morning of Feb. 19. A family spokesman did not say whatcaused the death

 

10 - Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, commited suicide by jumping in front of LIRR train

 

11 - Kenneth Bellando, 28, a trader at Levy Capital, formerly investment banking analyst at JPMorgan, jumped to his death from his 6th floor East Side apartment.

One can only wonder how many of these unfortunate deaths were due to the similar "investigation" concerns.

 

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Tue, 03/25/2014 - 17:55 | 4591898 Cornholiovanderbilt
Cornholiovanderbilt's picture

I can think of 2....

1. He was a Banker

2. He was a Deuche Banker

Tue, 03/25/2014 - 18:05 | 4591915 debtor of last ...
debtor of last resort's picture

Just one more dead witness.

-Cuntfucious say

Tue, 03/25/2014 - 18:24 | 4591968 pies_lancuchowy
pies_lancuchowy's picture

Sad to see ZH jump on such news in pursuit of conspiracy fans.

Out of hundreds of thousands of bankers , dozens will commit suicide.

In most cases, stress at work will be one of the factors.

Come on, ZH. You can do better

Tue, 03/25/2014 - 19:52 | 4592263 ILLILLILLI
ILLILLILLI's picture

Hey, we'd kill hundreds of thousands of bankers, but we're, you know, busy.

Tue, 03/25/2014 - 21:25 | 4592513 Dr. Sandi
Dr. Sandi's picture

Yeah, we're all lined up trying to get our cash out of the friggin' bank.

Tue, 03/25/2014 - 22:11 | 4592632 NOTfromSanFrancisco
NOTfromSanFrancisco's picture

 

 

"Come on, ZH. You can do better."

Yeah ZH!... Everyone knows that it is very common for people to shoot themselves multiple times with a nail gun in order to commit suicide!... Conspiracy?... Bah!... Humbug!...

What the...? Dang!... Tripped over your trolling line!...

Tue, 03/25/2014 - 18:47 | 4592050 Son of Loki
Son of Loki's picture

Too soft and with a conscience.

Not Wall Street material.

Tue, 03/25/2014 - 18:59 | 4592097 lemonobrien
lemonobrien's picture

son of lucifer.

Tue, 03/25/2014 - 18:52 | 4592077 walküre
walküre's picture

Not sure if any of you guys are familiar with the Uli Hoeneß case. Ex manager of Bayern Munich, one of the most successful sport clubs in Europe. He admitted to tax evasion and agreed to pay 27 million in back taxes. He's still going to jail because of the sums he withheld. 3 years in min. security prison in a Munich suburb. What's astounding is how much money he made in the last ten years to be on the hook for 27 million in back taxes (he admitted to). It was made in the stock exchange he says and probably a half billion or more. Crazy. Of course he's protecting some of the big guys.

Tue, 03/25/2014 - 18:58 | 4592094 unicorn
unicorn's picture

they dont understand the nature of jumping i guess;)

https://www.youtube.com/watch?v=Crjnz3YeiEo

or forgot the basejumprope?

Tue, 03/25/2014 - 19:06 | 4592128 Bunga Bunga
Bunga Bunga's picture

Bankers better jump now! When they arrest you, seize your property, your picture is on zerohedge, your friends, neighbors and family ignores you - that will going to get very ugly for you.

Tue, 03/25/2014 - 19:12 | 4592141 I Write Code
I Write Code's picture

The episode of Castle last night had a dead bigtime bankster, turned out he was wearing a wire for the feds (because the feds "planted" cocaine on him), the boss tried to buy him off, then a fed killed him when he tried to run.

They didn't even mention ZeroHedge in the episode, afaik.

Tue, 03/25/2014 - 21:26 | 4592515 Dr. Sandi
Dr. Sandi's picture

Possibly ZH was innocent of that particular crime.

Tue, 03/25/2014 - 19:47 | 4592243 ken
ken's picture

Are you insinuating that these low level bankers are being "suicided" or murdered to prevent them from testifying?

Tue, 03/25/2014 - 20:01 | 4592284 anyways
anyways's picture

i can't hold my tears :-))

Tue, 03/25/2014 - 20:19 | 4592317 Judge Crater
Judge Crater's picture

How many banksters were on Malaysia Airlines Flight 370?

Wed, 03/26/2014 - 02:01 | 4592961 bunnyswanson
bunnyswanson's picture

A patent in limbo.

 
Rothschild Inherits a Semiconductor Patent For Freescale Semiconductors

It also owns Freescale RF which is involved in creating solutions for Aerospace and Defence listed below.

1. Battlefield communication

2. Avionics

3. HF Radar – Band L- and S-

4. Missile Guidance

5. Electronic Warfare

6. Identification, friend or foe (IFF)

Freescale’s shareholders include the Carlyle Group of private equity investors whose past advisers have included ex-US president George Bush Sr and former British Prime Minister John Major.

Carlyle’s previous heavyweight clients include the Saudi Binladin Group, the construction firm owned by the family of Osama bin Laden.

The fact that Freescale had so many highly qualified staff on board the Boeing 777 had already prompted wild conspiracy theories about what might have happened.

http://www.pakalertpress.com/2014/03/25/rothschild-inherits-a-semiconduc...

Wed, 03/26/2014 - 03:30 | 4593035 Never_Put_Down
Never_Put_Down's picture

...and did the plane land safely at Diego Garcia? Even the mention of this Brtitish Owned, top secret military base, just south of the Maldives has been notably absent from any MSM news outlets

Tue, 03/25/2014 - 20:23 | 4592331 Quentin Daniels
Quentin Daniels's picture

Senior banking executives who are not members of the Cabal, and who became aware of their positions as official scapegoats.

Sad, really, as any suicide is, however anyone choosing to pursue a career in banking and finance who is not a 'family' member, must do so in the knowledge that they are cannon-fodder.  Like joing the army as a GI in the middle of a war.

Tue, 03/25/2014 - 23:54 | 4592822 MuleRider
MuleRider's picture

What do you call 11 banker suicides???

A good start....

Wed, 03/26/2014 - 03:25 | 4593029 Never_Put_Down
Never_Put_Down's picture

Did the banks have life insurance on these individuals?

Wed, 03/26/2014 - 07:59 | 4593158 SanfordandSon
SanfordandSon's picture

You could call this a one dog survey, but it is - or was - an important dog to me.

I have over 40 years of experience on "the Street" and one experience when a friend of mine jumped 30 floors out of 1 Rockefellar Center. He didn't bother opening the window.  Danny Davis was his name and I made the mistake of going down to the street to witness the scene.

Why did he jump, in his 30's with young kids and a great wife?

The firm he worked for - Lazard - had led an IPO and he was responsible for the firm's position.  He supported the market, withheld tickets, hidding a $30 million plus loss.  Back then $30 million meant more than it does today.

So I find many of other's post to be rude and thoughtless as this good friend and person got caught up in something that ended up consuming him.

I don't know why so many have taken the same escape that Danny did, but I can only surmize from my experience that the underlying reasons are not good...

Wed, 03/26/2014 - 10:26 | 4593554 Typing Typer
Typing Typer's picture

As to the question of why corporate people would rather kill themselves than just start over, I think a big reason is that the whole corporate mindset messes with your mind, makes you feel like the whole world is ending, and the literal next steps you take are all the steps in the world.

Call it "over focus" of the mind. I had a corporate life at one point and, although I was a lot more vicious then, I was also a lot more fragile. Today I'm "diversified" and self employed, no sooner would jump out a window over something as meaningless as money than I would chop off my hand for entertainment value, which is to say, not at all.

The run, run, run, go, go, go constant emotional windmill and rat race of the corporate world, combined with the artificial indoor environment they spend all their time in, makes people want to kill themselves. Add in a downward headed economy, and that just triggers the inherent mental imbalance in this money-chasing arena we call corporate business.

If these people had a chance to step back and breath, they wouldn't make the choice they made. But they are so over-strung at the time of friction, that it looks like dissolution is the only end to it all. Too bad, life is precious, it should never be thrown away for fiduciary paper and decimal points in computers, imho.

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