One of the world’s largest money mangers, Mohamed El Erian, just quit, while three bankers apparently committed suicide this week.
One former Deutsche Bank executive, William ‘Bill’ Broeksmit, was found dead after police received reports of a man found hanging at a London house.
Later that day, JP Morgan tech executive Gabriel Magee fell to his death from the bank’s London headquarters. Those close to who him where shocked, citing there was absolutely no indication that there might be anything in his private or professional life that would’ve cause him to take his life.
A few days after the deaths of the two London finance workers, former Fed member and chief economist at Russell Investments, Mike Dueker, was also found dead after falling from a 50-foot embankment. Pierce County Detective Ed Troyer said the death appeared to be a suicide.
Last week, a U.K.-based communications director at Swiss Re AG – the world’s second-largest reinsurer with focus on risk transfer, risk retention financing, and asset management, died. The cause of death has not been made public.
On Monday, the Russian Central Bank issued a statement warning that virtual currencies, or “money surrogates” are illegal under Article 27 of the Federal Law “On the Central Bank of the Russian Federation”.
This is, of course, directed at Bitcoin users. First China, now Russia. Whose next?
Meanwhile, according to Bloomberg via Zerohedge, ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week. In other words, if you have money there, you can’t take it out.
It has now come to light that the Russian Central Bank has now shut down the My Bank. It has also shut down Moscow-based lender, Priroda Bank.