Tragedy at BofA as 25-year-old trader dies at industry event

investmentnews.com:

A 25-year-old Bank of America Corp. credit trader died suddenly on Thursday night.

Adnan Deumic, a credit portfolio and algorithmic trader, collapsed of a suspected cardiac arrest playing soccer at an industry event and failed to respond to medical treatment including CPR, according to a person briefed on the matter. He joined the bank on the global markets team in 2022 after participating in the summer analyst program the previous year.

“The death of our teammate is a tragedy, and we are shocked by the sudden loss of a popular, young colleague,” a representative for Bank of America said in an emailed statement. “We are committed to providing our full support to Adnan’s family, his friends and to our many employees grieving his loss.”

Originally from Sweden, Deumic was active in sports including ice hockey. He was based in Bank of America’s London office.

The death is the second in recent weeks involving a young employee within the firm’s Wall Street divisions. Leo Lukenas, an associate within the investment banking group in New York, passed away earlier this month.

That incident sparked discussions within the industry about the culture of demanding, long hours in investment banking. In the weeks before he died, Lukenas — who was in the financial institutions group — had been working on a $2 billion bank acquisition deal, which he touted on LinkedIn. He passed on May 2 from an acute coronary artery thrombus, according to the New York City Office of the Chief Medical Examiner.

Whether or not work contributed to Lukenas’ death is unknown, and Bank of America is not formally investigating the death, according to people familiar with the matter. The company’s focus is “doing whatever we can to help and support the family