Morgan Stanley’s and Hiscox’s Bloomer Among Those Missing After Yacht Sinks
Morgan Stanley International chairman Jonathan Bloomer is among those missing, along with UK tech entrepreneur Mike Lynch, as Italian authorities continue to search the wreckage of the luxury yacht that sank during a storm off the coast of Sicily.
Specialist divers from Palermo’s fire and rescue service told local media that search operations resumed Tuesday morning. Firefighters said gaining access to the yacht, which is 48 meters (157.5 feet) below the surface, was “complex”.
The head of the civil protection agency in Sicily, Salvo Cocina, said in a message to Bloomberg that the six passengers still missing are Bloomer and his wife Judy, Clifford Chance partner Chris Morvillo and his wife Nada, as well as Lynch and his daughter Hannah.
Of the 12 guests and 10 crew who were on the yacht named Bayesian, at least one person has died. Lynch and his family were aboard with a small group of his financial and legal advisers celebrating the tycoon’s recent acquittal from fraud charges when the violent storm hit.
Prosecutors in Sicily opened a probe into the sinking of the yacht and have spoken at length to a skipper who was on board, Italian media reported on Tuesday. They believe the most likely explanation is that the Bayesian’s mast snapped during an extraordinary bout of bad weather.
The UK’s Marine Accident Investigation Branch has also sent a team of inspectors to the area.
❌ #Porticello #Palermo, riprese alle 8 di #oggi le immersioni dei #sommozzatori speleo dei #vigilidelfuoco per le ricerche dei 6 dispersi. Complesso l’ingresso nello yacht, in atto la pianificazione per aprire accessi più agevoli e ispezionare l’interno [#20agosto 11:00] pic.twitter.com/QRTdGtO8r2
— Vigili del Fuoco (@vigilidelfuoco) August 20, 2024
The Bayesian, which at 56 meters (184 feet) long was one of the world’s largest sailing yachts, had been anchored in waters hit by a marine spout, a column of air and water mist that can cause intense damage.
Bloomer, 70, has worked in the finance industry for five decades. He’s been chairman of Morgan Stanley’s European business since 2018, and was named to lead British insurer Hiscox Ltd.’s board last year. He is a friend of Lynch and was a witness for the defense in the long-running legal battle with Hewlett Packard.
Lawyer Morvillo served as co-counsel for Lynch, successfully defending him from criminal charges that he duped HP into overpaying for his software firm, Autonomy Corp. His colleague Ayla Ronald — who was also part of the team acting for Lynch — and her partner were also aboard and survived, a Clifford Chance spokesperson said.
Morgan Stanley and Hiscox also said in separate statements that they were shocked and saddened by the news and awaiting further developments.
From 1995 to 2005, Bloomer held senior roles at Prudential Plc — first as the firm’s finance chief and later its chief executive officer. He left after clashing with shareholders over a decision to raise money through a rights offer to help fund expansion in the UK instead of Asia.
Photograph: Jonathan Bloomer, chair of Morgan Stanley and Hiscox; Photo credit: Andy Shaw/Bloomberg