35 year old employee in Bank of America dies due to high work pressure

The sudden death of a 35-year-old Bank of America associate, Leo Lukenas III, has sparked outrage on Wall Street and ignited a discussion about the toxic work culture prevalent in many financial institutions, including Bank of America. Lukenas, a former Green Beret who was part of the bank’s Financial Institutions Group, died on May 2 of “acute coronary artery thrombus” after allegedly working some 100 hours a week for several weeks in a row on a $2 billion merger that was completed just three days before his death.

Calls for Better Working Conditions

In response to Lukenas’ death, some bank employees have expressed their frustration and concerns about the demanding work culture. Bank staffers have criticized Lukenas’ boss, Gary Howe, co-head of the financial institutions group, and there have been reports of employees discussing a possible walkout to bargain for better working conditions.

On social media, a banker highlighted a list of demands for employee welfare, including proactive policies that cap work schedules at an average of 80 hours over a 7-day period and ensure employees get at least one weekend off per month. The demands also call for an investigation into Lukenas’ death.

Bank of America’s Response

Bank of America has stated that it has no plans to take action against Gary Howe or to investigate complaints about junior bankers being forced to work 100-hour weeks. The bank expressed sadness over the loss of their teammate and emphasized their focus on supporting the family and the team, especially those who worked closely with Lukenas.

Discussion on Wall Street’s Work Culture

Lukenas’ death has reopened a longstanding debate on Wall Street about the responsibility of banks towards their employees and the impact of a work culture that prioritizes wealth over well-being. Many bankers and industry professionals have criticized the intense working conditions, including long work weeks and high-pressure environments, particularly for junior bankers.