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Banker Death 'Epidemic' Spreads To China

Tyler Durden's picture




 

Until now, the terrible trail of dead bankers has been only among US and European financial executives. However, as Caixin reports, the increasing pressures on the Chinese banking system appear to have take their first toll. Li Jianhua, director of China's Banking Regulatory Commission (CBRC), died this morning due to a "sudden heart attack" - he was less than 49 years old. Li was among the main drafters on new "caveat emptor" market-based rules on China's shadowy banking system and recently said in an interview that "now is not only a time to control risk, but to transform the trust industry.. if it's too loose, it's a big problem." Li was found by his wife.

 

Via Caixin,

Li Jianhua, director of the CBRC AfDB died due to heart attack, still less than 49 years old. As planned, Li Jianhua this morning to attend a major industry conference.

According to several sources close to the CBRC said, Li Jianhua was revising to 12 o'clock at night.

 

Unexpectedly around 6:00 this morning, his wife found him passed away, due to sudden heart attack.

 

Both inside and outside China Banking Regulatory Commission expressed sorrow and regret.

Li was well-known as the author of major China Trust regulations...

Li Jianhua was born in July 1965, Hunan Yongxing, graduated from Wudaokou Finance Institute.

 

Li Jianhua was the main drafter of "one law two rules" or "People's Republic of China Trust Law," "Trust management approach" "Trust Capital Trust scheme management approach,"

It seems clear that Li was somewhat anti-bailout, preferring market forces to fix the trust industry...

Li Jianhua has made it clear for the new financial reporters that this understanding is wrong. No. 99 Wen emphasized that "sellers responsible" does not mean that the buyer can zero-risk, high-yield.

 

Now China has not yet Trustee Ordinance, if the trustee's duty to strengthen and plug loopholes flaws, accordingly, "caveat emptor" is also strengthened. This is the market rules.

...

For the trust industry has experienced many ups and downs rectification, Li Jianhua was believed that this industry is still promising, but trust industry needs to find new profit model, there is also the process of transformation...

 

"if too loose, I'm afraid to be a big problem."

This brings the sad list of senior financial services exectives who have died in the last few months to 13:

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.

12 - Jan Peter Schmittmann, 57, the former CEO of Dutch bank ABN Amro found dead at home near Amsterdam with wife and daughter.

13 - Li Jianhua, 49, the director of China's Banking Regulatory Commission died of a sudden heart attack

 

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Wed, 04/23/2014 - 17:56 | 4688203 Billy Sol Estes
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I was literally wondering when our daily banker death story was going to appear. Glad we made it before close of business.

Wed, 04/23/2014 - 18:19 | 4688277 negative rates
negative rates's picture

That's why we never get any reforms, it takes years to catch these cats, and once you do get to the end with them, a new batch arrives on the scene to carry on the same traditions of the past in secret, until they are caught and the whole cycle starts again.

Wed, 04/23/2014 - 18:23 | 4688287 gmrpeabody
gmrpeabody's picture

Were there any nails laying around...?

Wed, 04/23/2014 - 18:24 | 4688293 kaiserhoff
kaiserhoff's picture

Anyone else see, like, a pattern developing here, or is it just me?

Wed, 04/23/2014 - 18:59 | 4688379 aVileRat
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Bankers in tax havens & debt market advisors in currency speculation havens were getting the gears. Now on the other side we are starting to see the biggest fish who had exposure or wanted to fix those shifty loopholes/currency pools are suddenly finding a new reason to google: "bugout bag" and "death insurance".

Or whatever, correlation does not always best-fit the storyline.

 

Wed, 04/23/2014 - 19:17 | 4688424 Xibalba
Xibalba's picture

who takin' out the trash? 

Thu, 04/24/2014 - 03:43 | 4689486 old naughty
old naughty's picture

"Anyone else see, like, a pattern developing here, or is it just me?"

Here, there, everywhere.

Anyone still think these ism-thingys are them vs us?

Wed, 04/23/2014 - 18:49 | 4688348 Wahooo
Wahooo's picture

Karma. And it's just getting started.

Wed, 04/23/2014 - 18:54 | 4688363 ACP
ACP's picture

If it is karma, I'm still waiting for the government bureaucrat/politician deaths to start.

Wed, 04/23/2014 - 17:56 | 4688204 JoeSexPack
JoeSexPack's picture

Got phone call from judge Hang Yu Soon...

Wed, 04/23/2014 - 18:04 | 4688237 McMolotov
McMolotov's picture

ROR

Wed, 04/23/2014 - 18:17 | 4688269 noob
noob's picture

(Banking) Ethics - NSFW

Wed, 04/23/2014 - 17:57 | 4688210 Rainman
Rainman's picture

They found him in the hot tub.

Wed, 04/23/2014 - 18:00 | 4688218 Spigot
Spigot's picture

with a steel dart pinning his body to the tub wall ... and his heart stopped working

Wed, 04/23/2014 - 18:11 | 4688249 noob
noob's picture

with a farewell letter nailed to his forehead.

Wed, 04/23/2014 - 18:15 | 4688264 Spigot
Spigot's picture

and a fucking bill for materials and services rendered sent to his widow, too

Wed, 04/23/2014 - 19:17 | 4688426 neidermeyer
neidermeyer's picture

I suppose the hair dryer was unnecessary then.

Wed, 04/23/2014 - 21:48 | 4688913 Spigot
Spigot's picture

You can never be too careful about these things. Always good to have a back up plan in place. A well planned, assisted suicide never goes wrong.

Wed, 04/23/2014 - 17:58 | 4688212 Bastiat
Bastiat's picture

Maybe someone was "controlling risk."

Wed, 04/23/2014 - 17:58 | 4688213 kill switch
kill switch's picture

The questions get harder and the pressure increases.....that's the game your in..

Wed, 04/23/2014 - 17:58 | 4688214 Rusty Shorts
Rusty Shorts's picture
R.L.Burnside - it's bad you know

https://www.youtube.com/watch?v=QzC_rGX-XyM

Wed, 04/23/2014 - 18:00 | 4688225 McMolotov
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The Breitbart Treatment™.

Wed, 04/23/2014 - 18:02 | 4688229 rtalcott
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 the terrible trail...

what's so terrible?

Wed, 04/23/2014 - 18:02 | 4688230 alien-IQ
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"Epidemic" makes it sound like it's a bad thing that these bankers are dying.

Wed, 04/23/2014 - 19:10 | 4688326 JuliaS
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Hardly an epidemic.

Knowing how many bankers there are in the world, the percentage of those affected by the sudden loss of life disease is lower than the interest rates in Japan.

If you go to FDIC website, you'll find out that more banks "die" each week than bankers.

Wed, 04/23/2014 - 18:02 | 4688232 Make_Mine_A_Double
Make_Mine_A_Double's picture

There is a massive purge going on in PRC for Bo Xilai Wing of party that extends deep into the military and business.

So when someone goes missing or turns up dead from unexplained circumstances that is the prism to look at it through.

Wed, 04/23/2014 - 18:11 | 4688250 css1971
css1971's picture

Can you plot the dates? Then we'll know if it's a beneficial trend or not.

Wed, 04/23/2014 - 18:14 | 4688252 silver surfer
silver surfer's picture

This is nothing!

French Telecom company Orange alone has 10 suicides so far this year.. 35 in 2008-2009

http://www.theguardian.com/business/2014/mar/19/orange-france-investigat...

Wed, 04/23/2014 - 18:53 | 4688334 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

...Orange was formerly the state-owned France Telecom, which reported a similar wave of deaths between 2008 and 2009....

Why is this time frame critical to the surveillance state of the empire and which agency is part of the triumvirate of the big three?

 

Wed, 04/23/2014 - 18:56 | 4688368 Wahooo
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Dysfunctional corporate soulless existence. Some people chase it and then make the mistake of finding it.

Wed, 04/23/2014 - 18:14 | 4688262 Olephant
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The list is missing two entries. The banker shot in Liechtenstein: http://bacaracka.com/bacablog/2014/04/liechtenstein-bank-ceo-shot-in-bro...

 

And the one shot in Belgium: http://www.businessinsider.com/bnp-paribas-banker-murdered-in-belgium-20...

Wed, 04/23/2014 - 19:15 | 4688420 Oldrepublic
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maybe that former zero hedge poster from Brussels can tell us about it!

Wed, 04/23/2014 - 18:15 | 4688266 AdrenalineTrade
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SkyNet became self aware earlier this year, and the algos are merely bumping off their competition.

Wed, 04/23/2014 - 18:17 | 4688273 booboo
booboo's picture

yu di yung

Wed, 04/23/2014 - 19:47 | 4688526 pupdog1
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Miso Solly

Wed, 04/23/2014 - 18:20 | 4688280 german Wunderkind
german Wunderkind's picture

this dont look like murder... u die early when u do Cocain all day long...

Wed, 04/23/2014 - 18:20 | 4688282 noob
noob's picture

Squeal bag! Squealster! Remington Squeal!

Wed, 04/23/2014 - 18:23 | 4688288 navy62802
navy62802's picture

Eh ... I wouldn't call this phenomenon terrible. Curious, perhaps. But certainly not "terrible."

Wed, 04/23/2014 - 18:25 | 4688294 Hammerabi
Hammerabi's picture

Bankers commit suicide too?

 

I thought it was just dentists?

Wed, 04/23/2014 - 18:26 | 4688300 Yen Cross
Yen Cross's picture

  Sudden heart attack in the front seat of his running 'Red Flag' with a nail gun plugged into cigarette lighter...

Wed, 04/23/2014 - 18:44 | 4688336 buzzsaw99
buzzsaw99's picture

<-- this is all happening too fast

<-- this is all happening too slowly

Wed, 04/23/2014 - 18:58 | 4688376 Reaper
Reaper's picture

A good contagion has developed.

Wed, 04/23/2014 - 19:30 | 4688458 DigDeepDown
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Has anyone done any research as to what links all these deaths together? Do the bankers have common views on certain policies? Were they agains the status quo? Or were they aligned with the central banks and neocons and did they perhaps "know too much"? 

 

There must be some info on this.. somwhere?

Wed, 04/23/2014 - 20:14 | 4688597 Racer
Racer's picture

Oh for a Pandemic.....

Wed, 04/23/2014 - 20:26 | 4688636 pirea
pirea's picture

it is going to be the highest risk profession.

when you lose rich people's money, you are dead.

Wed, 04/23/2014 - 21:11 | 4688801 ZeroFreedom
ZeroFreedom's picture

We should have a seperate section to keep track of these events. However, is the nail gun made in China or can we export that back to them. 

Wed, 04/23/2014 - 21:20 | 4688831 Duc888
Duc888's picture

 

 

....what's the vector?  Would be nice for the virus to head over here for a few thousand years.

Wed, 04/23/2014 - 21:24 | 4688847 caustixoid
caustixoid's picture

Chinese men, if they smoke, smoke like chimneys.  They can still smoke in their offices.  If this guy was a 3 pack-a-day smoker this actually isn't that shocking.  

Then again maybe the Chinese have closed another gap with the west, the Suiciding Gap.

Wed, 04/23/2014 - 21:31 | 4688867 ramacers
ramacers's picture

the Licthenstein murder. was jurgen herrrman's body ever found?

Wed, 04/23/2014 - 22:35 | 4689084 Typing Typer
Typing Typer's picture

Actually he's the second Chinese banker to die, remember that guy who jumped off the roof in Hong Kong.

Wed, 04/23/2014 - 23:10 | 4689168 boeing747
boeing747's picture

We just 80% thru new bubble, it just can't pop right now, anybody on the way has to go.

Thu, 04/24/2014 - 00:12 | 4689269 xavi1951
xavi1951's picture

Epidemic - 

 ; affecting or tending to affect a disproportionately large number of individuals within a population, community, or region at the same time

 

I do not think the number is large enough yet.........

Thu, 04/24/2014 - 01:56 | 4689408 jackthelad
jackthelad's picture

This brings the sad list of senior financial services exectives who have died in the last few months to 13:

WTF is sad about it?

I'm ecstatic....

Thu, 04/24/2014 - 04:18 | 4689514 Rodders75
Rodders75's picture

C'mon ZH this really is no big deal.

Fri, 04/25/2014 - 08:09 | 4694555 DocNo
DocNo's picture

This is unrelated to the western banker’s death toll.  China's banks are not under Rothschild's jurisdiction and Li Jian Hua did not commit suicide. I see that there are many O'trolls out there stirring up kaka.  

Sat, 04/26/2014 - 11:49 | 4698874 Skiprrrdog
Skiprrrdog's picture

"Banker deaths" and "epidemic". Is it just me, or are they making epidemic seem like a bad thing in this article?

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