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Article

11 Jan 2014

Author:
Reuters, Daily News

Bank of America to improve working conditions for junior bankers after death of summer intern [UK]

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Bank of America Merrill Lynch has detailed how it intends to improve working conditions for its junior bankers after one of its summer interns died…[An] internal review had outlined measures to ensure such staff take days off and to improve support and supervision…The review was announced after 21-year-old Moritz Erhardt died…towards the end of a seven-week internship at the U.S. bank's investment division in London…Erhardt's death highlighted concerns about interns working excessive hours and even through the night after newspaper reports suggested that the German student had worked for 72 hours without sleep before he died…An inquest into Erhardt's death found he died of natural causes…Effective immediately, analysts and associates are recommended to take a minimum of four weekend days off per month. Any exceptions must be pre-approved by senior managers…Bank of America declined to comment.