(Left) JPMorgan’s European Headquarters at 25 Bank Street, London Where Gabriel Magee Died on January 27 or January 28, 2014
In the past six months, five current workers and two former workers of JPMorgan Chase have died under unusual circumstances. Adding to the tragedy, all seven were in their late 20s or 30s and three of the deaths involved alleged falls from buildings – a rare form of death even during the height of the financial crisis in 2008.
According to the New York City Department of Health, there were just 93 deaths resulting from leaps from buildings in Manhattan and boroughs during 2008 – a time when century old iconic Wall Street firms collapsed and terminated tens of thousands of workers. Those 93 deaths represented just .000011625 of the City’s population of 8 million. JPMorgan’s global workforce population is just 260,000.
No other major Wall Street bank comes close in terms of young worker deaths over the past six months. Of equal concern, since December, the early deaths related to JPMorgan have been coming at a rate of one or two a month – almost like clockwork.
The most recent was 27-year old Andrew Jarzyk, who went missing in the early hours of March 30, after leaving friends at a supper club in Hoboken, New Jersey to jog in preparation for an upcoming half-marathon. A month later, his body was recovered from the Hudson River in Hoboken. According to police, there were no signs of trauma to the body. Jarzyk was employed at PNC Financial at the time of his disappearance but had worked previously as a technology intern at JPMorgan.
L. Jay Lemons, the President of Jarzyk’s alma mater, Susquehanna University, wrote in atribute to Jarzyk that “During his undergraduate years at Susquehanna, Andrew was inducted into three national honor societies: Alpha Lambda Delta for first-year student achievement; the Order of Omega for Greek leadership; and Omicron Delta Kappa, a national leadership honor society recognizing students who demonstrate superior scholarship, leadership and exemplary character. As someone blessed to have known Andrew personally, I can attest that he indeed demonstrated all of these qualities.”
Tomorrow, a Coroner’s inquest will be held in London to investigate the circumstances of the tragic death of Gabriel Magee, age 39, a U.S. citizen from New Mexico working at JPMorgan’s European headquarters at 25 Bank Street in Canary Wharf, London. Magee was a Technology Vice President involved in the “planning, development, and operation of systems for fixed income securities and interest rate derivatives.” Magee’s body was discovered at approximately 8:02 a.m. on the morning of January 28 on a 9th level rooftop at the 25 Bank Street building. Magee had been working late the prior evening but had emailed his girlfriend to say he’d be leaving shortly. When he did not arrive home, she reported his disappearance to police.
The series of strange deaths has brought unwelcome attention to the fact that mega banks like JPMorgan Chase are allowed to secretly collect life insurance proceeds on the lives of their employees, and former employees, without disclosing the amounts to the families, or the public, or their shareholders. (Other corporations are likewise engaged in this practice.) The payments are a closely guarded secret between the companies and the insurers who collect the lucrative premiums. Continue reading