Edouard Stern: French Financier Killed |Know Everything About Him|
Edouard Stern (October 18, 1954 – February 28, 2005) was a French banker who was assassinated in Geneva, Switzerland, by a woman with whom he had a four-year connection. He was the 38th richest French citizen at the time of his death.
Here in this article I’m sharing all the information about Edouard Stern in brief, who was he, his death cause, career and personal life. Was he married?
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Who was Edouard Stern?
Edouard Stern was born in 1954 to the owners of the private investment business Banque Stern, one of France’s wealthiest families.
His father, Antoine Jean Stern, was the former wife of French journalist and politician Jean-Jacques Servan-Schreiber, and his mother, Christiane Laroche, was a descendant of a prominent family of bankers dating back to 19th-century Frankfurt.
He is Edgard Stern’s great-grandson.
Stern earned a finance degree from the Ecole Supérieure des Sciences Economiques et Commerciales (ESSEC Business School) in Paris before entering the family’s private investment firm in 1977, eager to follow in his father’s footsteps.
Edouard Stern death cause
Stern was discovered dead in his Geneva residence on February 28, 2005, with four bullets in his corpse.
He was discovered in the bedroom, dressed in a flesh-colored latex bodysuit with a dildo implanted in him.
Cécile Brossard, his long-time lover, was apprehended by Swiss authorities after he was slain during a sado-masochistic bondage session.
Brossard, 40, was found guilty and sentenced to eight years and six months in prison on June 18, 2009.
In addition, the Swiss court ordered Brossard to pay one Swiss franc to Stern’s children as “moral damage.” “Stern’s family hopes people will stop talking about the case,” according to the Wall Street Journal.
Cécile Brossard was released on parole in November 2010 after five years in prison (four of which were spent awaiting trial).
For the first time since the trial, Cécile Brossard spoke about the murder in 2013, revealing that she “eternally regrets” her acts and loves her boyfriend, who had “a charming and luminous personality.”
The French film “Une Histoire d’Amour” (translated as “Tied”) tells the narrative directly, albeit the ending could imply death by dehydration during the mistress’ long plane ride rather than by (a blank) gunshot.
Olivier Assayas’ 2008 film Boarding Gate is said to be based on Édouard Stern’s narrative.
The death of Édouard Stern was mocked in the third season episode “Lo Scandalo” of the FX animated comedy Archer.
Edouard Stern Career
Stern, who took over Banque Stern at the age of 22, had a clear mandate to save the nearly bankrupt institution.
Stern restructured the bank in the 1980s, strengthening its financial markets and mergers and acquisitions activities.
Stern sold the bank to Lebanese investors for 300 million francs ($60 million in 2005 currency) in 1985.
Stern was able to maintain the copyright to his last name because to a contract clause.
Stern opened a new bank with a similar name and business profile almost immediately after the sale, attracting many of his previous clientele.
In 1988, he sold this second organisation to the Swiss Bank Corporation for an estimated 1.75 billion francs (SBS, which will later merge with UBS to form UBS S.A.).
Stern rose to the 38th place among France’s wealthiest families as a result of these trades, according to Forbes.
He joined Lazard Frères as managing partner in 1992 and quickly rose through the ranks to become one of the firm’s top bankers and heir-apparent.
He attempted to cut costs by bringing in younger partners, but ran into trouble with Michel David-Weill, the bank’s CEO and his father-in-law.
In 1997, he left Lazard Frères to start his own investment firm, Investment Real Returns (IRR).
He owned half, with the rest held by Eurazeo, a Lazard holding company, and Mainz Holdings Ltd., a wholly owned U.S. Virgin Islands entity.
He kept friendly contacts with David-Weill, who put $300 million into IRR.
In 2000, Stern invested in Delta PLC, a London-based worldwide engineering firm that was rethinking its corporate strategy.
His share finally grew to 26 percent, and he was named non-executive chairman on December 31, 2003, after exerting great pressure.
Stern sued Rhodia in October 2003, alleging incorrect accounting and insider trading. Delta was taken over by Valmont, a US business, after Stern’s death.
Stern earned a fortune of more than $1 billion over the course of his nearly three-decade career, thanks to a succession of “frequently spectacular commercial dealings.”
Stern perfected his skill at organising hostile takeovers, and his banking approach was regarded revolutionary for France’s so-called “cosy capitalism.”
Edouard personal life
Édouard Stern married Béatrice David-Weill, the daughter of Lazard Frères president Michel David-Weill, in 1983.
In 1998, the couple divorced. Mathilde, Louis, and Henri Stern are Stern’s three children.
In 1997, Stern began dating Julia Lemigova, the former Miss Soviet Union 1990, with whom he had a son, Maximilian, who died as a newborn in mysterious circumstances. Stern began dating Cecile Brossard in the year 2000.
Stern was known for his outlandish behavior. He was close to Nicolas Sarkozy, the former French President. He was a well-known glutton, rumored to have consumed seventy pieces of sushi in one sitting.
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