{UAH} ANOTHER BANKER TAKES HIS LIFE WITH HIS FAMILY

Former ABN Amro banker Jan Peter Schmittmann, his wife and daughter found dead in murder suicide

Maud van Gaal and Martijn van der Starre, Bloomberg News | April 7, 2014 | Last Updated: Apr 7 2:20 PM ET
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BloombergPolice probe 'family tragedy' involving former CEO of ABN Amro whose takeover in 2007 helped bring on the collapse of the Bank of Scotland.

Dutch authorities are investigating the deaths of former ABN Amro Netherlands’ Chief Executive Officer Jan Peter Schmittmann, his wife and a daughter, whose bodies were discovered two days ago in their home.

LinkedInan Peter Schmittmann, 57, and his wife and daughter were found dead at their home in the Dutch town of Laren, 32 kilometres southeast of Amsterdam.

Dutch police told the Wall Street Journal Monday that Schmittmann, 57, committed suicide after killing his wife Nelly, 57, and daughter Babette, 22.

The police said that a goodbye letter was found in his home, but didn’t say if it was written by Schmittmann.

The couple’s other daughter wasn’t at home and was informed by officers of the death of her family.

Relatives said in a statement that they were “deeply shocked” by the news.

“We knew that Jan Peter wrestled with severe depressions. That this eventually led to this is still incomprehensible for us,” they said. “Our first priority now is to support the other daughter of the family.”

The former banker’s death comes after several unexpected deaths by finance workers around the world have raised concerns of mental health and stress levels in the industry.

London Deaths

A coroner in London last month started an inquest into the apparent suicide of William Broeksmit, 58, a retired Deutsche Bank AG risk executive found dead in his London home in January. The inquest for Gabriel Magee, a 39-year-old vice president in technology operations at JPMorgan Chase & Co., who died after falling from the firm’s 33-story London headquarters, is scheduled for late May.

In 2009, former ABN Amro Holding NV Chief Financial Officer Huibert Boumeester, 49, took his life while suffering from depression, according to the coroner investigating his death. The banker was found dead from gunshot wounds by police that June in woodlands 25 miles west of his London home.

Schmittmann joined ABN Amro Holding NV, once among Europe’s biggest banks, in 1983 as an assistant relationship manager and was named head of the lender’s Dutch unit in 2003. As a member of the bank’s executive board, he was responsible for restructuring it along the lines agreed by Royal Bank of Scotland Group Plc, Fortis and Banco Santander SA in their three-way takeover of the lender in 2007.

Failed Takeover
A year after the biggest financial-services takeover in history, the credit crunch drove Fortis to the verge of collapse, forcing the Netherlands to take over its Dutch banking and insurance units, including assets of the former ABN Amro in 2008. The Dutch asked Gerrit Zalm to lead the company now called ABN Amro Group NV.
On the eve of the nationalization, Schmittmann was dismissed by the Dutch Finance Ministry, he told lawmakers in a 2011 hearing. He received an 8 million-euro ($11 million) severance payment, less than what he was entitled to under his contract and more than the Dutch government sought to pay.

Schmittmann owned 2phase2, a management company for investments and financial transactions, according to information on LinkedIn Corp.’s professional social-networking website. He’s also co-founder of 5 Park Lane BV, and last year returned to banking as a supervisory board member at Delta Lloyd Bank NV.

De Telegraaf reported Monday Schmittmann hanged himself, citing two unidentified people.

Bloomberg.com

 

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