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London authorities open investigation into banker deaths

Coroners to re-examine two cases in light of rash of reports

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Authorities plan to open investigations into two recent apparent suicides of financial executives in London, following a rash of reports of suicides among banking and finance executives in the United States, Hong Kong and the United Kingdom, Bloomberg News is reporting.

HousingWire – with an acknowledgement to ZeroHedge, which initially broke the story – has been covering this rash of reports of the suicides of  financial executives and bankers since late January.

There have been 11 such apparent self-inflicted deaths, five of which were among men with connections to JPMorgan Chase & Co. (JPM).

The deaths have raised concerns about the mental stresses those in the industry face, as well as questions about the circumstances of some of the deaths.

London coroners will re-examine the deaths of William Broeksmit, 58, this week, Gabriel Magee, 39, in May.

Broeksmit, a top executive at Deutsche Bank who had retired in 2013, had been found hanged in his home in the South Kensington section of London.

Global regulators are currently investigating Deutsche Bank for allegedly rigging foreign exchange markets. It settled similar charges in 2013 over involvement in the manipulation of the Libor interest rate benchmark.

Two days after Broeksmit’s death, former Deutsche Bank risk analyst Eric Ben-Artzi spoke at Auburn University in Alabama, alleging that Deutsche hid $10 billion in losses during the financial crisis.  Other whistleblowers have come forward with similar allegations.

Magee fell from the JPMorgan building in Canary Wharf in London. His parents told the London Evening Standard that they don’t believe their son would commit suicide, and they have raised troubling questions about how their son was able to access the roof from which he is said to have jumped to his death.

The list of those reported include the following:

  • 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.
  • 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.
  • 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.
  • Mike Dueker, 50-year-old chief economist of a US investment bank was found dead close to the Tacoma Narrows Bridge in Washington State.
  • 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.
  • 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.
  • 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.
  • Li Junjie, 33-year-old banker in Hong Kong jumped from the JP Morgan HQ in Hong Kong.
  • 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 what caused the death
  • Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, committed suicide by jumping in front of LIRR train.
  • 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 March 12.

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