UBS banker (head of derivatives) jumps to his death after snorting cocaine at party

alexmst

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Dec 27, 2004
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By Daily Mail Reporter

Last updated at 4:45 PM on 8th September 2010

Neil McCormick, head of Asia Equity derivatives at UBS, jumped to his death after snorting cocaine at a party thrown to welcome him back from Hong Kong

McCormick plunged sixty feet and landed on rubble after he was spotted walking in circles and mumbling 'guys, don’t do this to me', the court heard.

Mr McCormick, who had used cocaine regularly since studying at Oxford University, moved to Hong Kong last September with his wife Diana and baby son.

In June, the 36-year-old head of Asia Equity derivatives at UBS returned home for a wedding. The day after the ceremony, friends held a barbeque in his honour.

But after treating himself to steak and a beer, the banker was seen by Connor Kelly, the owner of the house in Holland Park, west London, snorting a line of cocaine from a plate in the kitchen.

Westminster Coroners’ Court heard the banker went to lie down at some point in the afternoon, before getting up a few hours later, at around 7.30pm.

He returned to the kitchen where he started muttering to himself and walking aimlessly.

He then went out on to the patio on the forth floor, vaulted across some pot plants and on to scaffolding, before he jumped to his death.

Connor Kelly told the court: 'When he arrived he seemed perfectly normal. He was chirpy.

'When he got up from his nap he came in, circling around the intermediate area between the sitting area and kitchen, circling around there mumbling to himself.

'I thought I heard him say the words “guys, don’t do this to me”. It was barely audible. It was certainly odd.

'I saw him walk out across my patio and basically vault the window boxes. Then there is a concrete balustrade, and he basically vaulted from that onto where I was having some exterior decoration done.

'I saw him vault between the window boxes and the balustrade, then there was a scramble. That’s the image I will probably have solidly with me forever. He steadied himself, and that was it.'

Mr Kelly rushed to his back garden along with his doctor brother Cieran to try and help their friend.

'He was actually a decent way out from where he fell. It was a jump, not a step.'

Another friend at the party, who Mr McCormick had known as a chemistry undergraduate, said the barbeque was 'a big celebration for Neil coming back' and had been planned for a couple of months.

Recounting the evening, Stefan Kazubowski said: 'He seemed really good. There was a lot of banter back and forth. There was a lot of gabbing with him. We were having a laugh, as always we were in hysterics.'

But he said Mr McCormick changed after his sleep.

'He seemed agitated. He walked around the room and then out onto the balcony, and because I saw he was agitated I followed him just to find out what was wrong.

'I was concerned because he seemed upset. I know that Neil could get a little bit paranoid at times and he seemed a little bit paranoid.

'If he had ever taken drugs in the past it didn’t always react well with him. I tried to speak to him in a normal level voice.

'He didn’t respond and carried on walking to the end of the patio and climbed onto the boxes that hold the shrubs. In one large step he then went onto the scaffolding, and at that point I called quite loudly.

'I called again very loudly as he took his second foot onto the scaffolding.

'Just for the briefest moment he steadied himself before he stepped off.'

Coroner’s officer Kola Omadoye said: 'Mr McCormick had a long history of recreational cocaine use, since his time at university.'

The court heard that Mr McCormick had no history of mental health trouble and that his marriage was an extremely happy one.

Deputy Coroner Shirley Radcliffe said: 'I don’t believe that the intention was to kill himself. I think he was obviously, from what we have heard here, in an agitated state.

'We heard he had previously acted in a bizarre way when he had taken cocaine. I think he was under the influence of cocaine and not fully aware of what he was doing.

'The toxicology reports showed his blood contained metabolites of cocaine, 0.92 milligrammes per litre, which is above the normal recreational level. Recreational use is normally around the level of 0.6 mg per litre.

'My conclusion to this death is that this is a result of misadventure as a result of the cocaine he had used earlier in the day.'


Read more: http://www.dailymail.co.uk/news/art...cocaine-welcome-home-party.html#ixzz0z0bm1XER
 

alexmst

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Dec 27, 2004
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I thought it was LSD that made guys think they could jump out the window and fly, not coke.

Oh well, live and learn...though not in Neil's case.
 

nottyboi

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I wish I had purchased a bunch of Neil default swaps... ..I think quite a few brokers/Investment banker types are coke fiends. It allows them to operate at a higher level...until they crash...
 

Ceiling Cat

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Feb 25, 2009
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This may not be a simple case of a guy taking cocaine and jumping off a balcony. People on cocaine are in an altered state of mind and may have less inhibitions than usual. There may be things that we are not aware of at this moment. Could it be that there is something in the UBS books that we do not know about, yet? UBS may be in a Lehman Bros. predicament and the burden of this matter may be too much for him. If he was suicidal, the cocaine my have elevated his fears of death.


Stay tuned, the story may be bigger than we know.
 

GameBoy27

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Nov 23, 2004
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Gee, I wonder why "Neil could get a little bit paranoid at times"? I mean, he only "used cocaine regularly since studying at Oxford University." Duh!!!

Drugs are bad!
 

hinz

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Sounds like those i-bankers and drug lords are one of the same.

I-bankers sell financially equivalent of dope/opium, aka SIV, CDS or whatnot by masquerading them as Bordeaux 1st Gru or Super Tuscan wine to get the big institution managers like those from Ivy League endowments, sovereign funds and big pension funds, high and addicted to perceived safe, high yield returns.

For the drug lords, they are no different, except they are the real McCoy and they do not hesitate to resort violence.

Having said that, the only difference between the two is when it comes to crime and punishment, the governments spend trillions on War on Drugs and try every legal means to eradicate and kill those drug traffickers. I-bankers OTOH get the mother of all bail-outs from the taxpayers. In return the crime and punishments these I-bankers receive are at worst slap on their wrists, at best a golden parachute, even driver seats in the government. :mad:

Don't know who is worse? Regulators who are browsing Terb of the world and spanking their monkies daily on the job instead of keeping an eye on the i-bankers? Or the I-bankers who concoct exotic structured products when they are snorting coke and having binge drinking? Or the big shots working for pension, sovereign funds treat the incoming funds as OPM on steroids and try to punt anything to cash in the big bonus, money that could be spend lavishly on drugs and half a dozens of trophy types waiting in line?
 
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