Investment banker’s suicide highlights pressures industry brings

Latest in a tragic line of banker deaths raises questions

Since January 2014, HousingWire has reported on what appears to be a tragic trend of suicides and mysterious deaths of financial executives and bankers.

Here is just a little of our past coverage.

Third prominent banker found dead in six days

More details emerge about three bankers who died in six days

Fourth suicide for finance executive under investigation

JPMorgan global program trading exec, dead at 37

Fifth financial executive with ties to JPMorgan found dead

London authorities open investigation into banker deaths

Death of banker under mysterious circumstances makes 36 in 2014

Now, the New York Times profiles a young investment banker who tragically took his own life, and the circumstances that may have contributed to it.

In retrospect, it was around Easter that John Hughes began to think something unusual was going on with his middle son, Thomas, a 29-year-old investment banker.

John’s former wife, Marypat, had arranged for brunch at the Yale Club, in Manhattan, with her three sons: Thomas, who worked at the Wall Street advisory firm Moelis & Company; John III, a young lawyer at Sullivan & Cromwell; and Joseph, an undergraduate at Fordham. The Yale Club, near Grand Central Terminal, was an easy enough trip on the train from her home in Westchester County, and an even easier one for her sons. But Thomas couldn’t make it. “There’s some big deal cooking at Moelis or whatever,” John recalls his son telling him. “He had to work through that whole stretch.”

Generally understanding of the long hours Wall Street banks expect of their youngest employees — after all, the pay was as high as the hours were long — Thomas’s parents could not fathom why he was not permitted a two-hour break on Easter Sunday. Ms. Hughes was miffed. “She just didn’t understand how this possibly could be on this particular day,” John says.

Less than two months later, on the morning of May 28, a Thursday, Mr. Hughes stepped onto the stone windowsill of his 24th-floor rental apartment on the southern tip of Manhattan and jumped to his death. He had been up all night, on an alcohol- and cocaine-filled binge, as best as can be determined by the police, whose report indicated that Mr. Hughes appeared to have been drinking heavily and that there were signs of cocaine use. The medical examiner has not yet released his toxicology report, but the police ruled the death a suicide.

Read the full story here.

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