A Bank of America executive with a reputation for driving junior bankers hard has been reassigned to a new role at the company following the death of a junior employee who had been working 100-hour weeks.
Gary Howe was the head of Bank of America’s Financial Institutions Group (FIG), and had been known to not strictly enforce the 80-hour working week maximum rule for his junior bankers.
Working under Howe had been Leo Lukenas III, a former Green Beret, who died suddenly in May at the age of 35. He had been working around the clock to close a major merger before his death.
In the weeks prior, Lukenas complained about the amount of time he had been working and had considered asking for a 10 percent pay cut in return for fewer hours and more sleep.