Another former top banker commits suicide

The 2008 takeover of ABN Amro was the biggest banking deal in history but turned out to be a very costly mistake for its new owners.

LONDON (CNNMoney)

The bodies of Jan Peter Schmittmann and his family were found Saturday at their home in the Dutch town of Laren, about 20 miles south east of Amsterdam, police said in a statement late Monday.

Police said a forensic investigation had ruled out possible alternatives to the murder-suicide scenario.

A suicide note was found, but police declined to provide details and would not comment further on the manner of the deaths.

But they released a statement from other members of the family acknowledging Schmittmann's battle with depression.

Schmittmann was responsible for ABN Amro's Dutch business for five years before he was forced out in 2008 when the bank's new owner -- Fortis (FRTSF) -- was nationalized at the height of the global financial crisis.

Related: Banks under pressure over rising stress

He started his career with ABN Amro's investment bank, before working as branch manager in India and country manager in Singapore in the 1990s.

He became a member of the bank's strategy team in 2000 and was appointed to the managing board in 2007, shortly after the ill-fated takeover by Fortis, Royal Bank of Scotland (RBS) and Spain's Santander (SAN).

Schmittman's suicide follows several other untimely deaths of finance professionals in Switzerland, the U.K., Hong Kong and the U.S.

The deaths have put pressure on the industry to do more to help employees suffering from stress, anxiety and depression.

Some companies are responding. In London, 19 firms and two charities have joined together to create the City Mental Health Alliance, providing a forum for top executives in banking and professional services to discuss how best to tackle rising stress levels.

--CNN's Mick Krever contributed to this article.

First Published: April 8, 2014: 10:41 AM ET

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