World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Friction at Zurich Built in Months Before Suicide
Keywords:
The suicide note left by CFO Wauthier of Zurich Insurance in August 2013. This followed heated and tense exchanges with chairman Josef Ackermann of Zurich Insurance, who joined the company in 2012. Wauthier says Ackermann created a very stressful working environment and treated managers disrespectfully, putting pressure on the finance department. Ackermann joined Zurich Insurance after a career as investment banker and CEO of Deutsche Bank AG. Zurich Insurance's board said an internal investigation will be conducted on cultural issues about whether excessive pressure was placed on the finance department by senior management. Ackermann resigned immediately. Ackermann had tried to change the culture at Zurich of courteous and quiet internal meetings. His position was non executive chairman but he took a vigorous role. Zurich Insurance was facing a difficult macroeconomic environment and missed three year operational targets set in 2010. Wauthier was a 53 year old dual French-British citizen who joined the company in 1996. He worked in southern California for the company in one position, where he improved his surfing skills. The differences between the hard charging investment banking demeanor of Ackermann and the quiet demeanor with engagement in sports of Wauthier, suggests serious differences in management styles leading to conflict that ended in tragedy.
Stress and senior management- Zurich Insurance and ex-Deutsche Bank executive
09/04/2013
The suicide note left by CFO Wauthier of Zurich Insurance saying the stress on the finance department and the tense exchanges with CEO Ackermann had led him to this choice. Wauthier committed suicide at his lake Zug home. He was known as a mild mannered manager and disagreed with Ackermann on how to present the firm's lagging performance to investors- Ackermann preferring a public show of dissatisfaction and Gauthier for the company to say it was working on reaching its goals. Ackermann is known for a results oriented managment. He resigned immediately. The tragic event leaves questions about how this could have happened.
Grouped Articles
Friction at Zurich Built in Months Before Suicide
Wall Street Journal 09/04/2013
Microsoft Abandons 'Stack Ranking' of Employees
Wall Street Journal 11/17/2013
Widow Confronts Zurich Insurance Executives Over Probe Into CFO's Suicide
Wall Street Journal 04/03/2014
The Story of the Self Destruction of Deutsche Bank - SPIEGEL ONLINE
SPIEGEL ONLINE 10/28/2016
Deutsche Bank Flew and Fell. Some Paid a High Price.
The New York Times 12/30/2016
Josef Ackermann of Deutsche Bank
06/04/2010
Grouped Articles
Deutsche Bank Hit By Legal Costs
Wall Street Journal 10/30/2013
Michael Coers' Bittersweet Exit from Deutsche Bank
BusinessWeek 06/04/2010
Deutsche Bank Deserves Bite Bair Gave It
Wall Street Journal 06/07/2010
Deutsche Loss Underlines European Economy’s Dependence on Banks
New York Times 01/20/2014
Executive Who Committed Suicide Anxious Amid Deutsche Bank Probes
Wall Street Journal 03/26/2014
Widow Confronts Zurich Insurance Executives Over Probe Into CFO's Suicide
Wall Street Journal 04/03/2014
Deutsche Bank management
01/15/2009
Grouped Articles
Fears Remain After Deutsche Bank's Cash Haul
Wall Street Journal 05/02/2013
Deutsche Bank Plans to Extend Contract of Co-CEO
New York Times 09/11/2013
Deutsche Bank Hit By Legal Costs
Wall Street Journal 10/30/2013
Michael Coers' Bittersweet Exit from Deutsche Bank
BusinessWeek 06/04/2010
Deutsche Bank Deserves Bite Bair Gave It
Wall Street Journal 06/07/2010
Deutsche Loss Underlines European Economy’s Dependence on Banks
New York Times 01/20/2014
Workplace stress and longevity for men and women
02/14/2011
Grouped Articles
Friction at Zurich Built in Months Before Suicide
Wall Street Journal 09/04/2013
Reflections on Stress and Long Hours on Wall Street
New York Times 06/01/2015
Your Co-Workers Might Be Killing You
Wall Street Journal 08/20/2011
Washington Post 06/25/2012
Wall Street Journal 02/14/2011
Then and Now: The Big Shift at Work
WSJ 09/04/2017
The culture and atmosphere at Deutsche Bank as it goes through federal German investigations in 2013-2015
09/04/2013
Grouped Articles
Executive Who Committed Suicide Anxious Amid Deutsche Bank Probes
Wall Street Journal 03/26/2014
German Financial Watchdog Bites Back
Wall Street Journal 03/28/2014
Friction at Zurich Built in Months Before Suicide
Wall Street Journal 09/04/2013
Deutsche Bank Vows New Culture of Ethics
New York Times 05/19/2014
Deutsche Bank Suffers From Litany of Reporting Problems, Regulators Said
Wall Street Journal 07/23/2014
Fed Is Said To Criticize Deutsche Bank's Oversight and Reporting Efforts
New York Times 07/22/2014
Banking culture issues- the suicides of Broeksmit, senior executive at Deutsche Bank, following federal German investigations, and of Wauthier, CFO at Zurich Insurance following difficult interactions with former Deutsche Bank executive
09/04/2013
Questions about cultural issues in banking raised by the two suicides, and the culture at Deutsche bank.
Linked Articles
Friction at Zurich Built in Months Before Suicide
Wall Street Journal 09/04/2013
Executive Who Committed Suicide Anxious Amid Deutsche Bank Probes
Wall Street Journal 03/26/2014
Deutsche Bank- the continuing tale at Zurich Insurance
01/01/2017
Linked Articles
Friction at Zurich Built in Months Before Suicide
Wall Street Journal 09/04/2013
Deutsche Bank Flew and Fell. Some Paid a High Price.
The New York Times 12/30/2016
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us
