LONDON millionaire Kirk Stephenson died after he jumped in front of a 160kmh train as the financial storm bared its fangs.

Neither Mr Stephenson nor his company had financial problems that would have led him to take his own life, some who knew him said.

But sources told the Daily Mail that the financier had 'succumbed' to the stress and responsibilities of his taxing role as a top banker.

They added that Mr Stephenson had over-reacted to the continuing financial turmoil.

A source told the Independent: 'I imagine, like most high-flying bankers, he will probably have lost a lot of cash recently as a result of the credit crunch. It appears the pressure became too much to bear.'

Last year, his private equity firm, Olivant Advisers, tried to buy a 15 per cent stake worth almost £1 billion ($2.6 billion) in UK bank Northern Rock before the bank was nationalised, bidding against Virgin boss Richard Branson, reported the Daily Mail.

In June, Olivant, of which he was chief operating officer, secured a 2.5 per cent stake in Swiss banking giant UBS. Since June, the bank has dropped in value by about 20 per cent, which means the value of Olivant's stake in UBS has fallen from £950 million to £770 million.

Before his death at 9am last Thursday, Mr Stephenson appeared to have everything to live for.

He began his stint in London in 1983 as a trainee with investment bank SG Warburg.

According to Olivant's website, his resume included working as an investment banker for Warburg and Morgan Stanley, and chief operating officer and managing director of law firm Freshfields Bruckhaus Deringer.

The glittering 20-year career had made him a hugely wealthy man.

New Zealand-born Mr Stephenson owned a £3.6 million, five-storey house in London's Chelsea district and a retreat in the West Country.

He earned £330,000 a year, the Daily Mirror reported.

He was said to have been happily married to Ms Karina Robinson, a successful financial writer. He had breakfast with her and their son, 8, before he drove to the train station on Thursday.

He left his car in the car park and crossed a footbridge over the main First Great Western Plymouth to the Paddington line.

Out of view of passengers on the platform, he was then said by witnesses to have leapt in front of a high-speed train.

Slammed brakes

The driver sounded his horn and slammed on the brakes but could not stop in time. The train came to a standstill more than 1km down the track.

Mr Stephenson left no note, but the incident is being treated by police, the train company and his own firm as a suicide.

The coroner is expected to record a verdict in due course.

Mr Stephenson's colleagues and family could not explain why he had gone to the station.

'Kirk had been under pressure, but I'm not aware his own money was at stake,' The Mirror quoted a friend as saying.

His devastated widow has released a statement saying: 'Kirk was a life-enhancer - not with a showy, life-and-soul-of-the-party sort of charisma, but as a planner who quietly ensured everyone around him had a marvellous time.'

She said he was a dedicated father and a devoted husband who valued his family above all else.

Ms Robinson said: 'He had a gift for friendship and was a generous and exceptional host, gathering his wide circle in summer villas all over Europe, as well as for parties, dinners and opera.'

Until two months ago, Ms Robinson, a former merchant banker, was a columnist for The Banker magazine.

One of her former colleagues said: 'He was very hard-working. He did a 24-hour-a-day job.'

A family friend added: 'Kirk was always troubled because of his work. He was always so busy, working late and travelling a lot.

Olivant chief executive Luqman Arnold said Mr Stephenson's colleagues were devastated by his death.

This article was first published in The New Paper on September 30, 2008.