Why Are Banking Executives In London Killing Themselves?

Bankers committing suicide by jumping from the rooftops of their own banks is something that we think of when we think of the Great Depression.  Well, it just happened in London, England.  A vice president at JPMorgan's European headquarters in London plunged to his death after jumping from the top of the 33rd floor.  He fell more than 500 feet, according to eyewitnesses.  This comes on the heels of news that a former Deutsche Bank executive was found hanged in his home in London on Sunday.  So why is this happening?  Yes, the markets have gone down a little bit recently but they certainly have not crashed yet.  Could there be more to these deaths than meets the eye?  You never know.  And as I will discuss below, there have been a lot of other really strange things happening around the world lately as well.

But before we get to any of that, let's take a closer look at some of these banker deaths.  The JPMorgan executive that jumped to his death on Tuesday was named Gabriel Magee.  He was 39 years old, and his suicide has the city of London in shock...

A bank executive who died after jumping 500ft from the top of JP Morgan's European headquarters in London this morning has been named as Gabriel Magee.

The American senior manager, 39, fell from the 33-story skyscraper and was found on the ninth floor roof, which surrounds the Canary Wharf skyscraper.

He was a vice president in the corporate and investment bank technology department having joined in 2004, moving to Britain from the United States in 2007.

What would cause a man in his prime working years who is making huge amounts of money to do something like that?

The death on Sunday of former Deutsche Bank executive Bill Broeksmit is also a mystery.  According to the Daily Mail, police consider his death to be "non-suspicious", which means that they believe that it was a suicide and not a murder...

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Wall Street Wiz 7 years ago Member's comment
Yes, there's an update here (from a different contributor). Looks like there may be another death (only missing for now): "Dead Bankers, Missing Reporter, And Unfolding Wall Street Scandals." http://www.talkmarkets.com/content/financial/dead-bankers-missing-reporter-and-unfolding-wall-street-scandals?post=40215
John Michael 7 years ago Member's comment
Mr. Snyder, have there been any updates on this? Any further correlation found between the bankers?
John Michael 7 years ago Member's comment
I hate to say it, but they probably did something wrong or maybe even illegal. They were likely afraid to go to jail or loose wealth they squeezed out of society. Chose a quick death rather than a life behind bars, or in shame, or simply out of a high paying job.
StockHound 7 years ago Member's comment
I can't say I have high thoughts about bankers in general, but that is a bit harsh. Most 'bankers' don't break the law, they just grab an opportunity where they see it. It is the laws on how the money tool (it is a tool for trading) should work that is to blame. So if the finger should be pointed at anyone, it's the politicians.
BreakingBad News 7 years ago Member's comment
One of the guys instrumental in the Enron scandal, Cliff Baxter, killed himself after saying, "They're calling us child molesters. That will never wash off."
Joel Santiago 7 years ago Member's comment
I'm afraid someone will have to explain the God Father reference. Believe it or not, I never saw the movie.
Michele Grant 7 years ago Member's comment
I have to agree, vice president is not an executive position in banks. And without knowing why they committed suicide... perhaps they were upset because their girlfriends dumped them, or they suffered from clinical depression... we have no evidence that their deaths head anything to do with banking. Yet... we can't ignore he possibility either.
Barry Blogs 7 years ago Member's comment
I don't know if 3 deaths are a fair comparison to the great depression, but if more continue, the similarities are pretty glaring. There have been all sorts of studies that show when there are a string of suicides, it can unleash a slew of others. With 3 bankers dead in such quick succession, others are likely to follow... if it makes it into the mainstream media for others to notice.
Wall St. Wolf 7 years ago Member's comment
I don't mean to belittle this tragedy - anyone taking their life is a horrible thing. But it should be noted that the companies like JPM give out the title VP pretty freely. These guys many not have been particularly important to the company. Of course that doesn't mean their deaths aren't significant or an indication of a far more serious trend.
Joel Santiago 7 years ago Member's comment
Okay, I admit 3 bankers killing themselves could be the beginning of a trend, but it could also just be a coincidence. Did they leave notes? Why did they do it? It could be totally unrelated.
Sensible Cents 7 years ago Member's comment
Watch God Father II and then you'll know why they did it.