Morgan Stanley CEO missing after yacht sinks off Sicily

Italian authorities have confirmed that Jonathan Plummer, chairman of Morgan Stanley International, and British tech entrepreneur Mike Lynch are missing after their luxury yacht sank off the coast of Sicily early Monday.

The six missing passengers are Plummer and his wife Judy, Clifford Chance partner Chris Morvillo and his wife Neda, and Lynch and his daughter Hannah, according to CNBC.

At least one person was killed of the 12 guests and 10 crew members on board the yacht Paisian after a hurricane struck near Porticello. Lynch and his family were on board, along with a small group of his financial and legal advisers, to celebrate the tycoon’s recent acquittal on fraud charges when a violent storm blew in.

The Italian coast guard confirmed the death of one person, the ship’s cook. Lynch’s wife, Angela Baccaris, was among the 15 people rescued.

The wreck of the luxury yacht off the coast of Sicily is the latest sign that sailing in the Mediterranean has become increasingly dangerous, climate experts and ship captains say.

Plumer is the non-executive chairman of Morgan Stanley International, the London-based arm of the investment banking giant, a position he has held since 2016. He is also chairman of insurance company Hiscox.

Hiscox Group Chief Executive Aki Hussain said Plumer and his wife, Judy, were among the missing.

“We are deeply shocked and saddened by this tragic event,” Hussain said in a statement. “Our hearts go out to all those affected, especially the Blumer family, as we all await further news about this terrible situation,” a Morgan Stanley spokesperson said.

Morvillo, a partner at New York-based Clifford Chance, recently represented Lynch in a landmark trial over allegations against him by Hewlett Packard. Lynch was acquitted in June.

With the deadly incident, climate scientists say global warming is making such violent and unpredictable storms more frequent in a sea used as a playground by millions of tourists in the summer, including a wealthy few who cruise its waters on luxury yachts.