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HK suicide unrelated to market - Merrill
Reuters Story - October 23, 1997 09:28
%BNK %FIN %GB %HK %STX %US MER %CN %EMRG %RCH V%REUTER P%RTR
LONDON, Oct 23 (Reuters) - The suicide of a British employee
of U.S. securities house Merrill Lynch in Honk Kong was
unrelated to this week's plunge in the Hong Kong stock market, a
Merrill Lynch spokesman told Reuters on Thursday.
Merrill said William Culley, 43, an information technology
expert, took his own life late Tuesday night/Wednesday morning
but the act was not associated with market trading.
How do they know this?
Merrill confirmed that Culley, who left a wife and two
daughters, had worked as a vice president at Merrill in Hong
Kong since early 1996, having previously been an employee of
British stockbroker Smith New Court which was bought by Merrill.
"Mr Culley's suicide has no connection whatsoever to this
week's sell-off in the Hong Kong market," Merrill spokesman
said.
"We are deeply saddened by the loss to Bill's family and to
Merrill Lynch. During this difficult time, our thoughts are with
the members of his family."
Earlier, Hong Kong police said a man had been found dead by
his wife in the Repulse Bay district of the territory. Chinese
newspapers immediately speculated that the suicide was related
to the share market whose fall has gathered pace as the week has
gone in.
On Thursday, the Hang Seng index of blue chip shares in Hong
Kong fell 10.41 percent.
-- Joe Ortiz, London Newsroom +44 171 542 8864.
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