In a memo to employees today, Bank of America has made some 'improvements' to its recommendations for analysts and associates working hours...
- *BOFA ANNOUNCES IMPROVEMENT IN WORKING CONDITIONS FOR JUNIORS
- *BOFA SAYS JUNIOR BANKERS SHOULD TAKE 4 WEEKEND DAYS OFF A MONTH
Bank of America Merrill Lynch has announced it will review working conditions for junior employees after the death of a 21-year-old intern last week.
Moritz Erhardt, a Bank of America Merrill Lynch intern, was found dead in his dorm in London. A spokesperson for the London Metropolitan police said the death had been ruled "unsuspicious," and that the medical examiner was expected to release its findings later this week.
The company will particularly be looking at the working conditions faced by junior employees and interns.
Erhardt, a German student, was finishing his summer internship at Bank of America Merrill Lynch, a competitive seven-week program in which interns often work overtime during their placement, the bank confirmed.
According to the U.K's Independent, an unidentified intern, who lived in the same building as Erhardt, said the German intern had been staying up for days during the last few weeks of the internship.
"He apparently pulled eight all-nighters in two weeks. They get you working crazy hours, and maybe it was just too much for him in the end," the intern told The Independent.