Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.

 

Young banker's suicide becomes twelfth in financial world this year

Published time: March 18, 2014 17:35
Edited time: March 19, 2014 21:35
Kenneth Bellando (image from Facebook)

Kenneth Bellando (image from Facebook)

A New York City investment banker is dead after allegedly jumping from his apartment building, continuing an alarming streak of suicides that has descended upon the financial world.

The latest death occurred on March 12, when 28-year-old Kenneth Bellando was found on the sidewalk outside his six-story Manhattan apartment building.

According to the Daily Mail, police investigators said the case was still under investigation, but that they do not suspect a third party to be involved and that Bellando – who had been working for Levy Capital since January – likely took his own life.

Before moving into his last position, the New York Post reported Bellando worked as an investment banker at JP Morgan Chase. His brother, John Bellando, also works at JP Morgan as an investment officer; the Post stated that multiple emails by John Bellando were presented as evidence during Senate hearings regarding the “London Whale” trading scandal.

Kenneth Bellando’s death now marks the 12th time this year that an employee in the financial world has taken his or her own life around the globe. Bellando graduated from Georgetown University in 2007, and is the youngest banking professional to commit suicide this year.

Although positions in the banking world can be especially lucrative, they’re also known to place an extreme amount of stress and pressure on individuals. It’s unclear whether or not Bellando’s death is related to pressure at work, but just last month psychologist Alden Cass told CNN Money that investment banking is particularly demanding.

"Out of all the sections of finance, no position do I know of that's more extreme in terms of the emotional endurance one has to have than investment banking," said Cass, who also co-wrote “Bullish Thinking: The Advisor's Guide to Surviving and Thriving on Wall Street.”

The recent string of suicides began in January, when Deutsche Bank AG's William Broeksmit, 58, was found hanged in his home on January 26 after reportedly committing suicide. Two JP Morgan employees are also believed to have taken their own lives after falling from buildings in London and Hong Kong.

Autumn Radtke, the CEO of the digital currency exchange firm First Meta, was also found dead outside her apartment in Singapore earlier this month.

Comments (62)

 

Robert Elliot 30.04.2014 21:33

Registan 10.04.2014 11:56

One thing is for sure...we will all find out soon enough what is really going on.

  


When do we ever find out "what is really going on"? All we get are stories that make no sense.

 

Registan 10.04.2014 11:56

Adam 18.03.2014 23:51

Before our last financial crisis, we didnt see people commiting suicide or at least they were not covered by the media.

  


I agree. If it was due to emotional stress and pressure we would expect to see a similar number of suicides in any given year, but we don't see that. What we see is a high number of suicides in a very short period of time starting in January. One thing is for sure...we will all find out soon enough what is really going on.

 

Pieter Nooten 07.04.2014 20:44

14 and counting. Yesterday a Dutch ex banker killed himself.... and his wife and daughter...

View all comments (62)
Add comment

Authorization required for adding comments

Register or

Name

Password

Show password

Register

or Register

Request a new password

Send

or Register

To complete a registration check
your Email:

OK

or Register

A password has been sent to your email address

Edit profile

X

Name

New password

Retype new password

Current password

Save

Cancel

Follow us

Follow us