I used to work at a bank. Perhaps you have too. I began as a teller back in 1990 when checks were on their way out and debit cards were on their way in and a Certificate of Deposit paid 7%. I really didn’t like the job, it turns out very few people like going to the bank, and people get nasty quickly if they are not happy about how you are handling their money. Moody customers and drive up teller lines around the building never caused me to consider suicide, however banker suicides seem to be all the rage last year, and banker suicides is a trend that is still continuing.
While during my modest banking career I never achieved such lofty titles as Managing Director or Director of Global Operations, nor did I encounter the stress that must go along with these titles, so my experience would be no indicator of the conditions faced by today’s top banking professionals, but the fact remains that all around the globe successful bankers are jumping off buildings, poisoning themselves, driving into trees and even committing suicide with a nail gun. Ouch.
Nail gun or not, there are those that would argue that a few dozen banker suicides around the world is not unusual at all (how usual is a suicide by nail gun?), and that other professions have even higher rates of suicide. This may be, however banker suicides seem to be spiking suddenly and when you drill down on a case-by-case basis you often find that the banker suicides were unsuspected and the now late banker didn’t exhibit any signs of depression or financial ruin that one may expect to see in individual about to kill themselves.
In fact, there have been a number of articles written and talk-shows dedicated to looking into these banker suicides both as individual cases and as a whole. The reoccurring thread seems to be that these bankers were happy, successful and well thought of, and quite often they had risen quickly through the ranks at their respective employers quickly.
While many of these bankers did have positions in investment finance and banking management, which would carry heavy stress loads especially in a down economy, it should be noted that a lot of these suicides were committed by people on the IT or technological support side of the industry. I can understand the personal banker losing the fortunes of his clients and wanting to jump out of a window, but somehow I have a harder time seeing a task oriented computer programmer type losing all hope and begin hunting for a noose.
Following is a list of bankers compiled and published by BeforeItsNews.com that committed banker suicide in 2014. Notice for yourself that these banker suicide victims run the gamut as far as banking responsibilities, however the majority seem to be within a certain age range and control large amounts of invested capital.
1)David Bird, 55, long-time reporter for the Wall Street Journal working at the Dow Jones news room
2) Tim Dickenson, a U you that should.K.-based communications director at Swiss Re AG
3) William Broeksmit, 58, former senior manager for Deutsche Bank
4) Ryan Henry Crane, age 37, JP Morgan
Li Junjie, 33, Hong Kong JP Morgan
6) Gabriel Magee, 39, age JP Morgan employee
Mike Dueker, 50, who had worked for Russell Investments
Richard Talley, 57, was the founder and CEO of American Title (real estate titles)
9) James Stuart Jr. 70, Former National Bank of Commerce CEO was found dead in Scottsdale, Ariz
10) Jason Alan Salais, 34 year old IT Specialist at JPMorgan since 2008
11) Autumn Radtke, 28, CEO of First Meta, a Singapore-based virtual currency trading platform
12) Eddie Reilly, 47, investment banker, Vertical Group, New York
13) Kenneth Ballando, 28, investment banker, Levy Capital, New york
14) Joseph A. Giampapa, 55, corporate bankruptcy lawyer, JP Morgan Chase
15) Jan Peter Schmittmann, 57, voormalig topbestuurder ANB/AMRO, Laren, Nederland
16) Juergen Frick, 48, CEO Bank Frick & Co AG, Liechtenstein
17) Benoît Philippens, 37, directeur BNP Parisbas Fortis Bank, Ans, België.
18) Lydia…, 52, bankier Bred-Banque-Populaire, Parijs
19) Andrew Jarzyk, 27, bankier, PNC Bank, New York
20) Carlos Six, 61, Hoofd Belastingdienst en lid CREDAF, België
21) Jan Winkelhuijzen, 75, Commissaris en Fiscalist (voormalig Deloitte), Nederland.
22) Richard Rockefeller, 66, achterkleinzoon elitebankier John D. Rockefeller, Amerika
23) Mahafarid Amir Khosravi (Amir Mansour Aria), 45, bankeigenaar, zakenman en derivatenhandelaar, Iran
24) Lewis Katz, 76, zakenman, advocaat en insider in de bancaire wereld, Amerika
25) Julian Knott, Directeur Global Operations Center JP Morgan, 45, Amerika
26) Richard Gravino, IT Specialist JP Morgan, 49, Amerika
27) Thomas James Schenkman, Managing Director Global Infrastructure JP Morgan, 42, Amerika
28) Nicholas Valtz, 39, Managing Director Goldman Sachs, New York, Amerika
29) Therese Brouwer, 50, Managing Director ING, Nederland
30) Tod Robert Edward, 51, Vice President M & T Bank, Amerika
31) Thierry Leyne, 48, investeringsbankier en eigenaar Anatevka S.A., Israël
32) Calogero Gambino, 41, Managing Director Deutsche Bank, Amerika
33) Shawn D. Miller, 42, Managing Director Citigroup, New York, Amerika
34) Melissa Millian, 54, Senior Vice President Mass Mutual, Amerika
35) Thieu Leenen, 64, Relatiemanager ABN/AMRO, Eindhoven, Nederland
36) Geert Tack, 52, Private Banker ING, Haaltert, België
So far in 2015 there have been three more banker suicides, and they seem to fit the modus operandi. If you believe nothing unusual is at hand here, then you would’ve probably stopped reading a while ago. If you do think that something with this situation isn’t right, then questions abound. What is going on? Are these people really killing themselves? Why would they kill themselves? Why would anyone kill themselves with a nail gun? Why don’t some of these people just retire since they are old and wealthy bankers?
There are as many answers as there are questions. Were some of these people maybe whistle-blowers perhaps? Could the IT professionals be the ones that were asked to write computer code that would “bail-in” bank customers next time there was a banking collapse and now these people were no longer useful? Did some of the investment bankers or managing directors find illegal or shady accounts that they shouldn’t have? Or perhaps will some of these dead people end up as convenient scapegoats during the next banking crisis? The only thing we know for sure that none of these 36 people will tell us why they were dying to get out the banking industry.
Whether it was the industry that these people worked in that cause these people take their own lives, or whether it was the industry that these people worked in that took their lives for them, we know that there is uncertainty and instability in the banking system. ITM Trading can help you avoid banking uncertainty and instability by quickly and easily diversifying a portion of your financial portfolio into physical gold and silver.
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Chief Market Analyst, ITM Trading