On February 28, Stern was found dead in his apartment in Geneva, his body riddled with bullets. His banking style was considered revolutionary for France's so-called "cozy capitalism" as Stern perfected the art of engineering hostile takeovers.
EDOUARD STERN SERIES
In October 2003, Stern sued Rhodia, alleging false accounting and insider dealing.ĭuring his almost three decade long career, Stern amassed a fortune of more than a $1 billion through a series of "often brilliant business deals". After his death, Delta was taken over by the US company, Valmont. His stake eventually increased to 26% and after applying considerable pressure, he was named non-executive chairman on December 31, 2003.
In 2000, Stern bought shares in the London-based Delta PLC, an international engineering group that was revising its corporate strategy.
He maintained cordial relations with David-Weill, who invested $300 million in IRR. Virgin Islands firm that Stern wholly owned. He owned half and the remainder was held by Eurazeo, a Lazard holding company and Mainz Holdings Ltd., a U.S. He quit Lazard Frères in 1997 and set up his own investment fund, Investment Real Returns (IRR). He tried to reduce overhead and bring in younger partners but clashed with Michael David-Weill, the bank's head and his father-in-law. In 1992, he joined Lazard Frères as managing partner and quickly became one of the firm's star bankers and heir-apparent. As a result of these transactions, Stern shot up the ranks of the richest families in France, occupying the 38th spot, according to Forbes. He sold this second institution for an estimated 1.75 billion francs in 1988 to the Swiss Bank Corporation (SBS, which will later merge with UBS to form UBS S.A.). Immediately after the sale went through, Stern started a new bank, with a similar name and business profile, drawing in many of his former clients. Thanks to a clause attached to the contract, Stern got to keep the copyright over his last name. In 1985, Stern sold the bank for 300 million francs ($60 million in 2005 dollars) to Lebanese investors. During the 1980s, Stern revamped the bank, expanding its activity in financial markets, as well as in mergers and acquisitions. CareerĪged 22, Stern took the reigns of Banque Stern with a clear mandate to revitalize the nearly bankrupt institution. Keen to follow in his father's footsteps, Stern graduated from the Ecole Supérieure des Sciences Economiques et Commerciales (ESSEC Business School) in Paris with a degree in finance before joining the family's private investment house in 1977. His father, Antoine Jean Stern is a descendant of a notable family of bankers, going back to 19th-century Frankfurt, and his mother was Christiane Laroche, former wife of French journalist and politician Jean-Jacques Servan-Schreiber.
EDOUARD STERN ARCHIVE
This True Crime Podcast was researched using open source or archive materials.Édouard Stern was born in 1954 to one of France’s wealthiest families, the owners of the private investment house Banque Stern. Music: “Nordic Medieval” by Marcus Bressler Stern Trial: Cécile Brossard, ‘happy girl’ became ‘woman in distress’ S&M lover convicted of French banker’s murder
EDOUARD STERN FULL
How banker’s life, full of intrigue, ended in murder Want to support our podcast? Visit our page at Patreonįor all sponsor discount codes, visit this page Resources WEB They immediately looked at a female companion he nicknamed Latex: Cécile Brossard.įor pictures and more information, join us on Facebook On the same day, his body was discovered inside his penthouse apartment, clad in a skin-coloured latex suit with other BDSM elements in his bedroom. When wealthy banker Édouard Stern failed to show up for a meeting at his office in Geneva, his colleagues were concerned when they could not get a hold of him.
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