Deutsche Bank board member Alfred Herrhausen is killed by a Red Army Faction terrorist bomb.

In the latter part of 1989, specifically on November 30th, one of the most renowned, influential, and controversial figures of the financial world of his time, Deutsche Bank board member, Alfred Herrhausen was tragically killed. Herrhausen’s untimely death was not due to natural causes, nor was it a random act of violence. His life was taken by a meticulously planned attack executed by the Red Army Faction, a radical left-wing terrorist group prominently active in Germany during that era.

Alfred Herrhausen was not just any board member of Deutsche Bank, but a man of great power and influence within Germany’s largest bank and indeed, within the global banking industry itself. He played a crucial role in leading the bank from being solely a German powerhouse to becoming a highly regarded player on the global financial stage. His ideas and visions, particularly regarding the restructuring of global debt, were innovative and revolutionary, earning him both proponents and opponents in equal measure. Herrhausen’s untimely and tragic demise sent shockwaves through international financial corridors.

The day of November 30th, 1989, dawned like any other for Herrhausen. The usual morning routine took him from his home in Bad Homburg, near Frankfurt, towards the bank’s headquarters in the city. As he drove along the peaceful tree-lined streets of the affluent suburb, a bomb planted by the Red Army Faction was triggered, targeting his armored Mercedes. The explosion was fatal, marking the end of Herrhausen’s life and the beginning of an international manhunt for his killers.

The Red Army Faction, also known as RAF, was infamous in Germany for its violent acts of terror, which mainly targeted figures in the governmental and economic sectors who they perceived as symbols of capitalist oppression. RAF claimed responsibility for the assassination of Herrhausen, stating his influential role in the global financial sector and controversial debt policies as their motivations. The attack on Herrhausen was the most high-profile and deadly carried out by the Red Army Faction during its “third generation” of operatives.

After the fatal attack, investigations were launched in Germany and beyond, aiming to bring those responsible for Herrhausen’s death to justice. This led to a widened understanding of the Red Army Faction’s operational methods, their ideological motivations, and their network of terror that spanned across Germany and into other countries. However, despite long-term, intensive investigations, no one was ever convicted for the murder of Alfred Herrhausen.

Alfred Herrhausen’s death marked a significant moment in the history of Deutsche Bank, as well as the broader context of financial history and global terrorism. His influential perspective on global finance and the corresponding resistance to change made him a target of one of the most violent left-wing terrorist groups in the world.

Understanding the implications of Alfred Herrhausen’s assassination goes beyond merely remembering the tragic event. It serves as a reflection of the tumultuous political climate of that time and offers insight into the risks faced by those occupying high-profile positions in the financial world and the potential resistance they may encounter from radically opposing ideologies.

Today, more than three decades after his demise, Alfred Herrhausen’s legacy lives on. He is remembered not only for his tragic death but for his pioneering contribution to the global financial world. Although Herrhausen’s propositions on debt reduction were not widely accepted during his lifetime, in retrospect, many of his ideas are now widely recognized and continue to play a significant role in modern economic discussions. Today, as Deutsche Bank continues to be a leading player in the global banking industry, the teachings of Alfred Herrhausen remain an integral part of the institution’s financial philosophy.