UK National News - Top Banker's Suicide Shock

29 September 2008

Top Banker's Suicide Shock

The boss of one of the potential bidders for Northern Rock prior to privatisation has committed suicide.

Kirk Stephenson, 47, who headed one of the City of London's most successful private equity firms, Olivant, killed himself by jumping in front of a train near Taplow station in Buckinghamshire.

Olivant, Chief Operating Officer at the company, died on Thursday after throwing himself into the path of the speeding train.

Olivant was set up in 2006 and came to prominence earlier this year as one of the bidders for the bank, Northern Rock, which was later taken over by the UK Government.

Mr Stephenson's wife, Karina Robinson, said the New Zealand-born financier was "a dedicated father and a devoted husband," adding: "He valued his family above all else."

Luqman Arnold, Chief Executive of Olivant, said: "Everyone has been devastated by the news of Kirk's death. Our thoughts and prayers are with his family."

A source said: "I imagine, like most high-flying bankers, he will probably have lost a lot of cash recently as a result of the credit crunch.

"It appears the pressure became too much to bear."

(BMcC/KMcA)