I just saw the Bloomberg article about a JP Morgan employee falling to his death from the top of Chater House, JP Morgan’s Asia-Pacific headquarters in Hong Kong. His body was found in the afternoon, yesterday. Supposedly this person was a junior employee in a supporting role, according to the Bloomberg article. He was described as Chinese and a male in his thirties.
Now this is the 2nd JP Morgan banker to apparently commit suicide recently. On January 28, a 39 year old JP Morgan vice president of technology operations died after falling from the roof of their European headquarters building in London. But this chain of events didn’t start with him. There were more bankers dying.
On January 26, William Broeksmit, a recently retired executive at Deutsche Bank AG (DBK) was found dead in his home in London. Another Bloomberg article cited “In an interview, a spokesman for the London police said a 58-year-old man was found hanging in a residence on Evelyn Gardens, the street where Broeksmit lived, and that authorities aren’t treating the death as suspicious.”
On January 31, it was reported that Mike Dueker was found dead along a highway that leads to the Tacoma Narrows bridge in Washington state. According to a county detective, his death appeared to be a suicide. He was 50 years old. He was the Chief Economist for Russell Investments, a global asset management company and previously worked for the Federal Reserve Bank of St. Louis.
So four financial executives all dying by apparent suicide around the globe, in the last 3 weeks. On top of that Karl Slym, 51, a Briton and managing director of India’s Tata Motors, dies in a fall from his 22nd floor hotel room at the Shangri-La Hotel in Bangkok, Thailand on January 26. Thai police believe it was a suicide.
So is it all just pure coincidence? Or is something dark simmering just under the surface? It has all the makings of a Robert Ludlum novel.
So back to the market today. The DJIA was down 24pts today in the most compressed day of the last 18 trading days. And you know what follows compression…expansion. Right now the short term trend is up. We’ll see if it continues. In addition to the market I look at SINA and SSYS.