Morning Coffee: Cause of death of banking associate disclosed. Family offices hiring juniors on $300k

efinancialcareers.com:

Following the social media storm throughout the long weekend after thedeath of an associate at a major US bank in New York City, the cause of death of the individual has been reported.

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Reuters reports that the associate, who died on Thursday, suffered an «acute coronary artery thrombus,» in which a clot is formed inside a blood vessel of the heart. The New York Office of the Chief Medical Examiner said he died of natural causes. 

The death of the associate, who was part of the Financial Institutions Group (FIG) team has caused outrage among junior bankers globally. There are unconfirmed claims that the young banker worked multiple weeks of over 100 hours and had a wife and young child. 

On forum website Wall Street Oasis, one banker purporting to be from the associate's employer suggested that colleagues go on strike to demand that senior bankers in the team be fired, that hours be capped at 100 a week, that no junior should work more than 80 hours a week on average on a monthly basis and that all juniors should get at least one weekend off a month. However, it's not clear that this individual works for the bank concerned.

In a comment to Reuters, the bank said: «Our focus is on doing whatever we can to support the family and our team, who are devastated.»

Separately, CNBC reports that family offices are hiring and paying more than before. Junior analysts at family offices have reportedly been demanding $300k salaries and as family offices compete with banks and private equity and hedge funds for staff, they're adding long-term incentive plans, such as deferred compensation, on top of base salaries and bonuses.

«If you look back 15 years ago, family offices were where