Zurich boss named in suicide note

The insurer has been thrown into disarray since company veteran Mr Wauthier was found dead at his family’s lakefront home on Monday and the subsequent resignation of former Deutsche Bank boss Ackermann three days later.

Mr Ackermann, one of Europe’s top financiers, quit after Mr Wauthier’s family shared the contents of the letter with senior executives at the firm, a source said.

Mr Wauthier explicitly blamed Mr Ackermann in the note for putting him under pressure, said the source, who declined to be named because of the sensitivity of the subject.

Mr Ackermann has described the allegations as “unfounded” but said he would leave to avoid damaging Zurich’s reputation. He took over as chairman last year. The insurer said Ackermann had made a personal decision to leave.

Sources said Ackermann and Wauthier had clashed ahead of the company’s second-quarter results in August over how they were presented.

Mr Wauthier, finance chief since 2011, mentioned the presentation of the results in his suicide note, a company source added.

In a conference call with investors, the company said there was no link between Mr Wauthier’s death and Zurich’s financial performance.

“We stand by everything we said at the half year,” chief executive Martin Senn said.

Zurich has offices across the UK, including one in Leeds.