Death from Thrombosis During M&A Work
Complaints About Work Intensity... Preparing to Change Jobs
Wall Street is in turmoil over the sudden death of an American banker who worked 110 hours a week. The banker was a former special forces soldier and reportedly complained of lack of sleep before his death. There are claims that the murderous workload is threatening the lives of bankers.
Foreign media including the Daily Mail recently highlighted Leo Rukenas III (35), a Bank of America (BoA) banker who died from a blood clot. A former member of the famous U.S. special forces unit 'Green Berets,' he was said to have been in charge of corporate mergers and acquisitions (M&A) at BoA after his discharge.
Although he was reportedly in good health before his death, a newly released report revealed that he was preparing to change jobs due to the issue of 'work intensity,' sparking an uproar on Wall Street.
Wall Street, the financial hub of the United States. The photo is not related to any specific expression in the article. [Image source=AP Yonhap News]
In March, shortly before his death, Rukenas was handling an acquisition deal for a U.S.-based financial company. It was a large-scale project worth $2 billion (about 2.7 trillion KRW), and at that time, he reportedly expressed his intention to change jobs to Douglas Walter, managing partner of the headhunting firm 'Grayfox.' The reason was the harsh workload causing a lack of sleep.
During the job transition discussions, Rukenas reportedly asked Walter, "Is working 110 hours a week common on Wall Street?" Walter replied, "It is definitely not common."
Rukenas even expressed willingness to accept a 10% pay cut in exchange for sleep. Accordingly, he prepared to move to a smaller bank that, while smaller in scale, would offer a better work-life balance. However, he was unable to complete the job transition and ultimately died suddenly.
According to foreign media reports, there is currently no confirmed direct link between long working hours and Rukenas's death. However, the fact that he worked about 100 to 110 hours a week has sparked outrage on social media. Comments such as "Isn't it obvious that a person working 100 hours a week would have deteriorating health?" and "The U.S. banking industry is something even soldiers can't endure" have poured in.
Gray Haw, BoA's CEO, reportedly set his 'X' social media account to private after receiving fierce criticism.
Meanwhile, a BoA spokesperson said, "Our current focus is on doing our best to support the grieving family and colleagues." The bank also added that it covered all expenses for employees attending Rukenas's funeral.
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