13 Bankers Dead: Latest was CEO Of Liechtenstein Bank Frick Murdered In Broad Daylight

Zero Hedge

 Over the weekend the world was gripped by the drama surrounding the mysterious murder-homicide of the former CEO of Dutch bank ABN Amro and members of his family, and whether there is more foul play than meets the eye. However, that is nothing compared to what just happened in the tiny, and all too quiet Principality of Lichtenstein, where moments ago the CEO of local financial institution Bank Frick & Co. AG, Juergen Frick, was shot dead in the underground garage of the bank located in the city of Balzers.

bankfrick_small 13 Bankers Dead: Latest was CEO Of Liechtenstein Bank Frick Murdered In Broad Daylight

Based on preliminary reports, the murder is the result of a disgruntled fund manager, Juergen Germann, who had previously been embroiled in a “bitter dispute” with the government and the bank. Bloomberg has more:

A 48-year-old man was shot dead in the underground garage of a financial institution in Balzers at 7:30 a.m. local time, the principality’s police said on its website. The suspect, Juergen Hermann, fled the scene in a Smart car with Liechtenstein number plates, according to police. Neither the victim nor the institution were identified in the statement.

The deceased was Juergen Frick, CEO of Bank Frick & Co. AG, Switzerland’s Radio 1 said in an e-mailed statement, citing employees of the bank. Calls to Bank Frick were answered by a voice-mail message saying the company is closed because of “a death.” It gave no further details.

Hermann is a fund manager who has been embroiled in a dispute with the Liechtenstein government and Bank Frick for many years, Switzerland’s Radio 1 said.

The Liechtenstein government and the country’s Financial Market Authority “illegally destroyed my investment company Hermann Finance and its funds, depriving me of my livelihood,” according to a website registered under the name Juergen Hermann of Hermann Finance AG.

He has filed lawsuits seeking recovery of 200 million Swiss francs ($225 million) from the government and 33 million francs from Bank Frick, according to the website. The lender “illegally enriched itself,” among other alleged crimes, it said.

A representative of Hermann’s lawyer declined to comment when reached by telephone. A call to Hermann Finance’s office was answered by an employee of a law firm who said his company isn’t related to Hermann Finance.

The narrative against the “publicly hostile” alleged shooter has already been flushed out.

Hermann has been “publicly hostile” to the country’s Financial Market Authority and some of its employees, forcing it to take security measures in consultation with the police, FMA spokesman Beat Krieger said in an e-mail today.

The escape vehicle was later found in the village of Ruggell, 25 kilometers (16 miles) north of Balzers, police said.

“The area is being searched by police with dogs and helicopters,” the 120-member police force said. Zurich police are helping to document the crime scene, spokesman Mario Cortesi said.

Here is the update form the local police station:

On Monday morning, it came in Balzers a homicide, the suspect is currently volatile.

Against 07.30 clock in an underground garage of a financial institution is a homicide in which a 48-year-old man was shot occurred. When volatile suspects are Jürgen Hermann from the Moors. He is armed and dangerous, according to police reports, the investigation of the National Police is in full swing.

Notes on a possible whereabouts of the suspects are requested immediately to the police landing +423 / 236 71 11. Upon encountering the suspect, it is important to exercise extreme caution.

Below is the profile of the murdered CEO, still on the bank’s website:

As CEO Jürgen Frick is closely involved in all business activities of the bank with a special focus lying on client advisory, financing and financial product development. As well he supervises all real estate development projects of the Bank.

Jürgen is also Chairman of the Board at Crystal Fund Management AG, a subsidiary of Bank Frick & Co.

As for the bank itself:

Bank Frick is active in modern wealth management and provides a range of advisory services. As well it specializes in fund development and fund administration.

Our Bank entertains close ties to an efficient network of fiduciaries, insurers, tax experts, investment funds and law firms around the world.

We are completely independent. Our advice and our services cater exclusively to the individual needs and requirements of our clients.

Combinvest Establishment serves as holding for all bank shares. Family Frick is the majority stake holder.

After a successful career in international banking and fiduciary services, Kuno Frick senior founded in December 1998 Bank Frick & Co. AG. Due to his wide experience and excellent connections, Bank Frick proved an immediate success.

Since then, the bank’s assets under management have risen steadily. New business segments are continuously being added to the bank’s service portfolio, while existing ones are constantly being refined.

In autumn 2011, Bank Frick’s international presence was significantly enhanced with the opening of Bank Frick UK Branch in Mayfair, London.

Up until now it was mostly banker suicides. With the first open bank CEO murder, one wonders if there will be a change in the pattern.

This brings the sad list of senior financial services exectives who have died in the last few months to 13:

1 – William Broeksmit, 58-year-old former senior executive at Deutsche Bank AG, was found dead in his home after an apparent suicide in South Kensington in central London, on January 26th.

2 – Karl Slym, 51 year old Tata Motors managing director Karl Slym, was found dead on the fourth floor of the Shangri-La hotel in Bangkok on January 27th.

3 – Gabriel Magee, a 39-year-old JP Morgan employee, died after falling from the roof of the JP Morgan European headquarters in London on January 27th.

4 – Mike Dueker, 50-year-old chief economist of a US investment bank was found dead close to the Tacoma Narrows Bridge in Washington State.

5 – Richard Talley, the 57 year old founder of American Title Services in Centennial, Colorado, was found dead earlier this month after apparently shooting himself with a nail gun.

6 – Tim Dickenson, a U.K.-based communications director at Swiss Re AG, also died last month, however the circumstances surrounding his death are still unknown.

7 – Ryan Henry Crane, a 37 year old executive at JP Morgan died in an alleged suicide just a few weeks ago.  No details have been released about his death aside from this small obituary announcement at the Stamford Daily Voice.

8 – Li Junjie, 33-year-old banker in Hong Kong jumped from the JP Morgan HQ in Hong Kong this week.

9 – James Stuart Jr, Former National Bank of Commerce CEO, found dead in Scottsdale, Ariz., the morning of Feb. 19. A family spokesman did not say whatcaused the death

10 – Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, commited suicide by jumping in front of LIRR train

11 – Kenneth Bellando, 28, a trader at Levy Capital, formerly investment banking analyst at JPMorgan, jumped to his death from his 6th floor East Side apartment.

12 – Jan Peter Schmittmann, 57, the former CEO of Dutch bank ABN Amro found dead at home near Amsterdam with wife and daughter.

13 – Juergen Frick, was shot dead in the underground garage of the bank located in the city of Balzers.

  Liechtenstein banker was shot dead after a feud involving an investment fund, and police said they believe the alleged killer later committed suicide.

The 48-year-old man was shot in the underground garage of a financial institution in Balzers at 7:30 a.m. local time, the Liechtenstein police said on their website today. Neither the victim nor the institution was identified in the statement. The deceased was Juergen Frick, CEO of Bank Frick & Co. AG, according to Switzerland’s Radio 1, which cited employees of his bank.

The suspect, Juergen Hermann, fled the scene in a Smart car with Liechtenstein license plates, according to police. The authorities later said Hermann appears to have committed suicide after they found the vehicle in Ruggell, 25 kilometers (16 miles) north of Balzers, with his passport and a confession.

“Service dogs were able to track the suspect to the banks of the Rhine,” police said in a statement. “Clothing belonging to the suspect was found there. Because of the circumstances and the evidence, suicide has to be assumed.”

Calls to Bank Frick were answered by a voice-mail message saying the company is closed because of “a death.” It gave no further details. A police spokesman didn’t immediately respond to telephone calls and e-mails seeking comment.

Prime Minister

Bank Frick & Co., founded in 1998, specializes in wealth management and investment advice. The firm managed about 3.5 billion Swiss francs ($3.9 billion) of assets on behalf of clients at the end of 2012, according to its website. The company’s chairman is Mario Frick, who was prime minister of Liechtenstein from 1993 to 2001.

Bank Frick was previously partly owned by Bawag PSK Bank AG, the Austrian lender that almost collapsed because of its links with failed U.S. futures firm Refco Inc. Bawag owned 26 percent and Refco had a 4 percent holding, according to a report by the Austrian Press Agency. After Austria led a bailout of Bawag in 2006, the company sold its stake in Bank Frick, according to a paper published the following year on the European Commission’s website.

Hermann is a fund manager who has been embroiled in a dispute with the Liechtenstein government and Bank Frick for many years, according to Radio 1.

Hermann Finance

The Liechtenstein government and the country’s Financial Market Authority “illegally destroyed my investment company Hermann Finance and its funds, depriving me of my livelihood,” according to a website registered under the name Juergen Hermann of Hermann Finance AG.

He has filed lawsuits seeking recovery of 200 million Swiss francs from the government and 33 million francs from Bank Frick, according to the website. The lender “illegally enriched itself,” among other alleged crimes, it said.

A representative of Hermann’s lawyer declined to comment when reached by telephone. A call to an office telephone number listed on Hermann Finance’s website was answered by an employee of a law firm who said his company isn’t related to Hermann Finance.

Hermann had been “publicly hostile” to the country’s Financial Market Authority and some of its employees, forcing it to take security measures in consultation with the police, FMA spokesman Beat Krieger said in an e-mail today.

Liechtenstein, a country of 36,800 people wedged between Switzerland and Austria, hasn’t seen a homicide since 2011, when three people lost their lives to crime, police said in their annual report. Bank Frick is one of 17 lenders in the Alpine country, according to the Liechtenstein Banking Association.