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Home / Business / Companies

Kiwi financier dies under train

NZ Herald
28 Sep, 2008 03:00 PM2 mins to read

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KEY POINTS:

A millionaire NZ financier died after falling under an express train in Britain as the world's financial markets went into meltdown.

Kirk Stephenson, 47, who moved to the UK in 1983, died on Thursday morning near Taplow station in Buckinghamshire, south-east England.

The Mail Online said Mr Stephenson,
who was chief operating officer of investment company Olivant Adviser, had breakfast with his wife, Karina Robinson, and his 8-year-old son Lucas before his death. He drove to the station and left his car in the carpark before falling in front of a high-speed train.

Mr Stephenson owned a £3.6 million ($9.4 million), five-storey house in Chelsea, south-west London, and a retreat in the West Country.

Last year, his private equity firm Olivant tried to buy a 15 per cent stake worth almost £1 billion ($2.7 billion) in troubled British bank Northern Rock before it was nationalised.

In June, the company secured a 2.5 per cent stake in Swiss banking giant UBS, which is believed to have written off billions after being hit by the US mortgage market crisis.

Since June, the value of UBS has dropped about 20 per cent, which means the value of Olivant's stake in UBS has fallen from £950 million to £770 million.

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