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Suicide Aftermath Threatens Ackermann's Career

Former Deutsche Bank CEO leaves position as chairman of the board for Zurich Insurance after being mentioned in suicide note of the company's CFO.

By Nicholas Comfort and Elena Logutenkova, Bloomberg | Updated on September 03, 2013

Josef Ackermann tried to shake up Zurich Insurance Group AG. Now, allegations that he was partly responsible for the suicide of the chief financial officer are casting a shadow over his 35-year career.

Pierre Wauthier, who was found dead on Aug. 26 at his home near Zug, Switzerland, mentioned Ackermann in a suicide note. The Swiss native, 65, quit as chairman three days later and called the allegations “unfounded.” Zurich Insurance, facing renewed concerns about its financial health, has since said it’s looking into whether undue pressure was placed on the CFO.

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