On Wednesday in NYC we had a banker suicide.
The troubled financial pro jumped from a posh Upper West Side building plunging eight stories to land on scaffolding that was surrounding the building.
A note was found that sources said Kevin Bell suffered from depression.
Bell, 47, was the head of credit risk at Arrowgrass Capital Partners a hedge fund run by two former Deutsche Bank execs, Henry Kenner and Nicholas Niell.
Bell also worked at DB for eight years leaving in 2007 as a Managing Director for its Special Situations trading desk, which in simplest terms was prop trading on the distressed side.
Prior to Arrowgrass, Bell worked for Saba Capital founded by disgraced ex-Deutsche prop trader Boaz Weinstein. Weinstein left DB in 2008 after his team posted $1.8B in losses in prop trading, wiping out his last two years of gains and greasing the skids for the troubled bank.
Now, as I have written in an award-winning story and video, Deutsche Bank was a cesspool during the naughts and has paid more than $30 billion in total civil fines to governments around the globe for its abuses in Libor and other credit manipulation schemes.
Much of DB’s regulatory troubles stem from the German bank trying to rebound from these bad trades followed by the losses suffered during the Great Recession.
I have no inside knowledge of what troubled Bell’s life, I am merely pointing out the crowd that Bell ran with over his career.
RIP, Mr. Bell.