Val d’Isere, France – An avalanche in the French ski resort of Val d’Isere has claimed the life of a top financial executive.

Craig Schiffer, 58, was skiing with his children and a professional ski guide on December 23 when the avalanche struck. He was buried for about 15 minutes before he died en route to a hospital in Grenoble. All others in his ski party survived.

Schiffer was a former top executive investment firms including Lehman Brothers, Nomura International and Dresdner Kleinwort in both New York and London. He lived in Summit, N.J. and owned a vacation home outside Annecy, France.

Schiffer is survived by his wife, Amy Schiffer and children, Jessica, Zach, Aoe, Annie and Gabe and his parents.