Financial world shaken by 4 bankers deaths
February 4, 2014 <http://www.herald.co.zw/author/wmurape/> Wenceslaus
Murape <http://www.herald.co.zw/category/articles/international/>
International
NEW YORK. The apparent suicide death of the chief economist of a US
investment house brings the number of financial workers who have died
allegedly by their own hand to four in the last week.50-year-old Mike
Dueker, who had worked for Russell Investment for five years, was found dead
close to the Tacoma Narrows Bridge in Washington State, says AP.
Local police say he could have jumped over a fence and fallen 15 metres to
his death, and are treating the case as a suicide.
Dueker was reported missing by friends on January 29, and police had been
searching for him.
A Sheriffs spokesman said investigators learned that he was having problems
at work, but did not elaborate. Jennifer Tice, a company spokeswoman
declined to comment, however said, that Dueker was in good standing at
Russell.
We were deeply saddened to learn today of the death, Tice said in an
e-mail on Friday. He made a valuable contributions that helped our clients
and many of his fellow associates.
Dueker joined Russell Investment in 2008. He wrote for Market Outlook
financial services publications, forecasting the business cycle and the
target federal funds rate. He is the creator and developer of a business
cycle index that forecast economic performance published monthly on the
Russell website.
He was previously an assistant vice president and research economist at the
Federal Reserve Bank of St. Louis, and is ranked in the top 5 percent of
published economists.
Over the past two decades he wrote tens of research papers mostly on
monetary policy, according to the banks website. His most-cited paper was
Strengthening the case for the yield curve as a predictor of US
recessions, published in 1997 while he was a researcher at the Federal
Reserve.
He was a valued colleague of mine during my entire tenure at the St. Louis
Fed, said William Poole, the banks ex-president. Everyone respected his
professional skills and good sense.
Duekers apparent suicide was the fourth among financial experts in a week.
A 58-year-old former senior executive at Deutsche Bank AG, William
Broeksmit, was found dead on January 26 in his home after an apparent
suicide in South Kensington in central London.
The next day, January 27, Tata Motors managing director Karl Slym (51), was
found dead on the fourth floor of the Shangri-La hotel in Bangkok. Police
said he could have committed suicide. Mr. Slym was staying on a 22th floor
with his wife, and was attending a board meeting in the Thai capital.
Another tragic incident occurred on January 28, when a 39-year-old Gabriel
Magee, a JP Morgan employee, died after falling from the roof of its
European headquarters in London.
While creating fortunes, City and Wall Street jobs are notorious for
extra-long working weeks and huge amounts of stress. In a move to ease the
tension some of the worlds biggest lenders like Bank of America, Goldman
Sachs, JP Morgan and Credit Suisse have been telling junior staff to take
more time off. RT.
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