In his first public comments since resigning from Switzerland'slargest insurer after being named in the suicide note of itsfinance chief, Josef Ackermann said it was unfair to blame him forwhat he called a surprise tragedy.

Speaking to reporters in Berlin at the presentation of abiography that depicts him as a hard-driving perfectionist, theformer Deutsche Bank CEO described the death of Pierre Wauthier asa “very tragic event”.

But he said he had barely known the executive who blamed him ina note that he typed before taking his own life last month.

Days later, Ackermann stepped down as chairman of ZurichInsurance. On Thursday, he announced he would also be giving up hisseat on the supervisory board of Siemens after losing an internalbattle in July over the ousting of the German engineering giant'sCEO.

The moves mark a dramatic downturn in the career of the65-year-old former Swiss army colonel, who rose to become one ofEurope's most powerful bankers, leading Deutsche for a decadeduring the global financial crisis and euro zone debt turmoil.

“The suicide of the finance chief of Zurich was a completesurprise to everyone,” said Ackermann, looking calm and composed ina blue suit and tie.

“However I resolutely reject the idea, contained in the notefrom the deceased, that I was responsible or partly responsible forhis suicide. There are no grounds whatsoever for his accusationsagainst me.”

Ackermann did not once mention Wauthier by name, referring tohim repeatedly as the “finance chief”. He said he had not spokenwith his former colleague's family.

The biography by his personal spokesman Stefan Baron, titled“Late remorse: a close-up of Josef Ackermann,” depicts him as animpatient, exacting boss who demanded excellence from staff butalso took colleagues and their partners away for weekend breaks,including a trip to India to play elephant polo.

“It's not a cakewalk to work for Josef Ackermann,” Baron writes.“With deadly precision he uncovers even the smallest weakness in anargument or presentation, and will push for improvements until hefeels it is perfect.

“The Swiss is impatient and wants to see results. Nobody shouldexpect a 'thank you' after working through the night.”

AGGRESSIVE TONE

Ackermann said his encounters with Wauthier, who left a wife andtwo children, had been infrequent and limited to exchanges aboutthe insurer's accounts that he described as “always businesslikeand based on mutual respect”.

Sources have told Reuters that at a meeting in mid-August, a daybefore second quarter earnings were released, Ackermann insistedthat Wauthier make changes to the results presentation, leadingZurich to signal a lack of progress on business targets.

Less than two weeks later, Wauthier hanged himself at his homenear Zug. In the note he described himself as demoralised due to anew, aggressive tone at Zurich under Ackermann, according to peoplewho have seen the letter.

Asked how he was coping with the suicide, Ackermann replied:“This was a very tragic event, no question. Only I didn't find whatthen occurred, these accusations, how shall I say it, to be veryfair.”

Ackermann returned to his native Switzerland in March of lastyear to take on the role at Zurich after 10 years leading Deutsche.Explaining why he stepped down so quickly after the suicide, hesaid Wauthier's family had threatened to go to the media withdetails of the note.

“There are many who asked me, encouraged me to carry on,” hesaid. In light of the incident and the threats, however, he came tothe conclusion that it would not have been possible to carry outhis duties as chairman with the “required resolve”.

He said he would remain on the boards of companies such asRoyalDutch Shell and Sweden's Investor AB. But people close to him havesaid he is likely to take a lower profile in public in the comingmonths.

Ackermann had not been out in public since Wauthier's suicide,except when he was seen at an evening soccer World Cup qualifyingmatch between Switzerland and Iceland on the day Zurich held amemorial service for the chief financial officer.