Bankers at UBS & beyond express sorrow at death of the funniest man in the markets
Richard Kersley, the former Credit Suisse head of product research management, who was diagnosed with a brain tumour three years ago, has died.
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Kersley's wife, Nix Kersley, wrote on LinkedIn that he died peacefully at home on Saturday evening.
As we reported last year, Richard Kersley had been spending £28k a month to fight his cancer. He opted to retire instead of joining UBS when Credit Suisse collapsed, but then blacked out at Goodwood a year into his retirement. Kersley was subsequently diagnosed with Glioblastoma Multiforma (GBM), a brain tumour that kills most sufferers within a year. He opted for treatment with a device called Optune Gio, which increases survival rates using "Tumor Treating Fields" emitted by patches placed on the head. But the device, plus immunotherapy drugs, weren't covered by Kersley's health insurer, AXA.
"Richard has not had a single operation or ailment in his life," said his wife last year. "He's never had to claim for an operation through AXA and the rejection of this claim seems ridiculous. You expect to get the best option on the market with health insurance, but it's just standard care."
Kersley spent 37 years at Credit Suisse. Former colleagues, who are now working at UBS and elsewhere, described him as "full of humour", "very funny" and one of the "smartest, kindest and funniest people in the market."
"The world is a less glorious place without him," said Matt Hall, vice chairman of UK investment banking at UBS. Speaking off the record, another former colleague says Kersley was always the person to go to when "other managers had done something crappy."
Kersley, who was in his early 60s, had intended to spend time with his family after retiring. "It was supposed to be family time," his wife told us last year. "When Richard was working, he was up at 5.30am and dealing with calls in the evenings and at weekends."
Writing at the weekend to announce Kersley's death, she said: "Don’t waste a moment of time as it is so damn precious and can be taken away in a heartbeat. No one imagines a life where a 5minute walk to the local coffee stop is so utterly beyond your reality. Don’t take anything for granted."
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