Wall Street shaken by sudden death of 35-year-old Bank of America associate amidst toxic work culture claims
livemint.comNew York Post, Lukenas passed away on May 2 from "acute coronary artery thrombus" after reportedly working approximately 100 hours weekly over several consecutive weeks. His death occurred just days after the completion of a $2 billion merger he had been working on. Also Read | Quant funds offer refreshing alternative to discretionary investing, says Rajiv Shastri of NJ Mutual Fund The tragic incident has ignited widespread outrage among bankers, who point to the demanding work culture at financial institutions like Bank of America as a contributing factor.
In the aftermath, Wall Street professionals have openly condemned the intense demands placed on workers. The New York Post reports that Bank of America (BoA) staff members have targeted Gary Howe, co-head of the Financial Institutions Group, with some discussing a possible walkout to negotiate better working conditions. Also Read | Bank of America’s Merrill, Wells Fargo Offer Bitcoin ETF Products For Clients Despite the outcry, Bank of America has indicated it does not intend to pursue action against Howe or address complaints regarding the gruelling schedules of its junior bankers.
A spokesperson for the bank expressed sorrow over Lukenas' death, stating, “We are very saddened by the loss of our teammate. We continue to do whatever we can to support the family and our team, especially those who worked closely with him," as quoted by NY Post. Lukenas is survived by a wife and two young children.
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