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8/19/13

Mod Note (Andy): Update - This story was confirmed earlier confirmed by our sources. Our prayers go out to his family.

From Bloomberg:

Moritz Erhardt, who was on a seven-week pre-graduate program in London, died Aug. 15, Bank of America spokesman John McIvor said by telephone today. The death is being treated as non-suspicious, a spokesman for the Metropolitan Police in London said in a statement.


Moritz Erhardt, who was on a seven-week pre-graduate program in London, died Aug. 15, a Bank of America spokesman said. Source: Seelio via Bloomberg
"He was popular amongst his peers and was a highly diligent intern at our company with a promising future," Bank of America said in its statement. "Our first thoughts are with his family and we send our condolences to them at this difficult time."
Erhardt was found unconscious at Claredale House, a student residential facility in East London. He was pronounced dead at the scene after being treated by paramedics, said the police spokesman, who asked not to be identified, citing agency policy.

Comments (267)

8/16/13

Sounds terrible but I could not find anything online yet.

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8/16/13

Seriously? This has not gone around the email chains yet in London... If this is true then it's either some underlying condition or substance abuse. Nobody dies from 1 all-nighter.

8/16/13
8/16/13

CallmeSir:

Okay. apparently its an intern from BAML.

Source.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
8/16/13

From what I know
- one of the best interns in IBD BAML
- 3 all nighters
- didn't turn up, colleagues went to find him
- heart attack

source: other ppl in london

In reply to hawkish2
8/17/13

R u sure your info is accurate ?? This is unbelievable. Its really sad.

8/17/13
8/17/13

hawkish2:

From what I know

- one of the best interns in IBD BAML

- 3 all nighters

- didn't turn up, colleagues went to find him

- heart attack

source: other ppl in london

People can actually stay awake 72 hours without sleeping?? I'm starting my IBD internship at a BB pretty soon but if I have to work 72 hours in a row I'm pretty sure within a few months you guys will be discussing my sudden death.

8/17/13

this part is complete and utter guesswork: to stay awake 3 nights you had to have had lots of coffee/+red bull, and that kind of mixture cannot be good for your health. got a friend in baml who confirmed it so it's an incredibly sad situation. And honestly puts the whole work-life balance thing truly into perspective.

8/17/13

Dont tell me anyone actually buys this...

8/17/13

Rumor spread, job done.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
8/17/13

Who are you guys to judge and joke?? Think twice, this is not any kind of scandal - we lost a friend!

8/17/13

hawkish2:

From what I know

- one of the best interns in IBD BAML

- 3 all nighters

- didn't turn up, colleagues went to find him

- heart attack

source: other ppl in london

Member for 11 hours.

Kerli:

Who are you guys to judge and joke?? Think twice, this is not any kind of scandal - we lost a friend!

Member for 1 hour.

Forgive the skepticism... looks like we'll just have to wait a bit to verify this one.

8/17/13

i don't see any incentive to spread such kind of "rumours". actually very sad to hear about this

Whether you think you can or you think you can't, your're right. - Henry Ford

8/17/13

This is why you guys need to know when to tell your seniors to fuck off, because at the end of the day no one in the bank gives a shit about your health and mental wellbeing

8/17/13

Damn this is sad. Anyone find it in any media outlets?

8/17/13

If this is true, it's flat out horrible.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

See my Blog & AMA

8/17/13

Heard BAML is keeping it quiet.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
8/17/13

Just confirmed it with a SI there whom I know personaly. She was surprised to know that I heard about it.

8/17/13

Scratchy:

Just confirmed it with a SI there whom I know personaly. She was surprised to know that I heard about it.

The WSO information network runs deep

8/17/13

CRE:

Scratchy:

Just confirmed it with a SI there whom I know personaly. She was surprised to know that I heard about it.

The WSO information network runs deep

Any news on whether it really was a heart attack?

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

See my Blog & AMA

8/17/13

No details from her. Seems they told them not to comment about it. She didnt even tell me in which team he/she was.

8/17/13

Horrible if true, may have involved a lot of coffee/redbull and underlying condition?

8/17/13

No surprise that they're keeping this quiet.

Just awful. RIP.

8/17/13
8/17/13

SonnyZH:

Heard she was in J.P. Morgan FIG...

This I can definitely believe...

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8/17/13

Definitely at BAML, was living in Claredale House where a lot of London interns stay, email was sent out to everyone there about the incident.

8/17/13
8/17/13

Why does it *have* to be an underlying condition, taking away the blame (at least part of) from these investment banks running their analysts (who are 20 year old kids) to the ground?

8/17/13

well its partly senior bankers being retarded but partly also juniors, at some point you have to call it quits, I mean doing 3 all nighters is a bit like wtf, baml isnt even that much a sweatshop, if you just go home after your 2nd all nighter people wont get mad...

8/18/13

This is just sad..

Hopefully the poor guy's family sues the shit out of BAML.

8/18/13

Very sad news. Will be interesting to see what the repercussions of this are.

8/18/13

Why is this not on the news? Surely the press would've known by now.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
8/18/13

Can confirm that HR from one of JPM / MS / GS have sent an e-mail round to line managers of IBD interns saying something along the lines of 'don't work your interns too hard for the final weeks'

8/18/13

Doll Armaker:

Can confirm that HR from one of JPM / MS / GS have sent an e-mail round to line managers of IBD interns saying something along the lines of 'don't work your interns too hard for the final weeks'

Oh wow ...

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

See my Blog & AMA

8/18/13

This is terrible. Probably a kid like the rest of us on WSO who was so excited to be working there, at least when he got the offer...

8/18/13

notthehospitalER:

This is terrible. Probably a kid like the rest of us on WSO who was so excited to be working there, at least when he got the offer...

I don't remember being excited during my IBD stint... worse 3 months of my life.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
8/18/13

Tbh summer analysts need to watch out for themselves a little. I saw these kids in my bank this year just hanging out past 2-3 AM with nothing to do cause they felt like they needed to be there and still show up by 9AM. Then there were the ones who were proud of pulling all nighters or sleeping the office doing bs work.

8/18/13

Heard he was in J.P. Morgan FIG...

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.
8/18/13

You don't die from work. I'd put my money on this being a drug related incident. Maybe the intern was taking adderall and OD'ed?

8/18/13

above_and_beyond:

This is just sad..

Hopefully the poor guy's family sues the shit out of BAML.

I certainly hope not. What an awful way to try to reconcile the tragic death of your son.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."

In reply to NorthSider
8/18/13

Is it a guy for sure ?? Some folks are saying it is a gal.

8/18/13

State of Trance:

Is it a guy for sure ?? Some folks are saying it is a gal.

People on this thread have gone back and forth. I'm not fully convinced this is a real story at this point.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."

8/18/13

Horrible, horrible situation. RIP

8/18/13

Take_It_To_The_Bank:
You don't die from work. I'd put my money on this being a drug related incident.

Or a prior health thing. But I agree, you don't die from work.

8/18/13

Doll Armaker:

Can confirm that HR from one of JPM / MS / GS have sent an e-mail round to line managers of IBD interns saying something along the lines of 'don't work your interns too hard for the final weeks'

It's not MS, their IBD interns finished a week ago. I don't think it's JPM either, my money is on Goldman

8/18/13

Have had this confirmed from an extremely credible source

8/18/13

Apple_iBank:

Doll Armaker:

Can confirm that HR from one of JPM / MS / GS have sent an e-mail round to line managers of IBD interns saying something along the lines of 'don't work your interns too hard for the final weeks'

It's not MS, their IBD interns finished a week ago. I don't think it's JPM either, my money is on Goldman

Not quite true, MS IBD interns are going into their last week. Did hear of GS interns at Claredale House being asked by HR about what happened though, so sounds like it might be them.

8/18/13

Take_It_To_The_Bank:

You don't die from work. I'd put my money on this being a drug related incident. Maybe the intern was taking adderall and OD'ed?

Doesn't have to be drug. Working too hard definitely plays a role here. I'm from China and for the past 4 years almost half dozen people died from working too hard at Big 4 and investment banking that were on the news

8/18/13

Confirmed from a BAML banker on my end
JPM/GS ended 2 weeks ago in NYC, not sure about LON

8/18/13

Arsene Wenger's Father:

Take_It_To_The_Bank:

You don't die from work. I'd put my money on this being a drug related incident. Maybe the intern was taking adderall and OD'ed?

Doesn't have to be drug. Working too hard definitely plays a role here. I'm from China and for the past 4 years almost half dozen people died from working too hard at Big 4 and investment banking that were on the news

Why don't people just refuse to continue working at some point? I like to believe I am very ambitious, and pulling an all-nighter is not an issue I guess, but if my superiors ask me to work 60 hours in a row I'd sincerely tell them to go f*ck themselves. Everybody knows that working such kind of hours without sleeping is not brutal but just complete insanity.

8/18/13

Tristan:

Arsene Wenger's Father:
Take_It_To_The_Bank:

You don't die from work. I'd put my money on this being a drug related incident. Maybe the intern was taking adderall and OD'ed?

Doesn't have to be drug. Working too hard definitely plays a role here. I'm from China and for the past 4 years almost half dozen people died from working too hard at Big 4 and investment banking that were on the news

Why don't people just refuse to continue working at some point? I like to believe I am very ambitious, and pulling an all-nighter is not an issue I guess, but if my superiors ask me to work 60 hours in a row I'd sincerely tell them to go f*ck themselves. Everybody knows that working such kind of hours without sleeping is not brutal but just complete insanity.

There's a lot of pressure which leads you to not always make the best decisions. As a Summer Analyst you're trying your hardest to prove yourself worthy of a full-time offer and it can be easy to neglect your health and sanity.

8/18/13

Only two hits I could find for this online, WSO and this link (which quotes WSO):

http://www.econjobrumors.com/topic/baml-summer-intern-dies-allegedly

At this point, I'm a skeptic.

adapt or die:
What would P.T. Barnum say about you?

MY BLOG

8/18/13

SirTradesaLot:

Only two hits I could find for this online, WSO and this link (which quotes WSO):

http://www.econjobrumors.com/topic/baml-summer-int...

At this point, I'm a skeptic.

There's also references to it on twitter from people who very clearly do not look like they lurk wso

Twitter's a surprisingly good news source sometimes

In reply to frank_reynolds
8/18/13

Link? I can't find one.

adapt or die:
What would P.T. Barnum say about you?

MY BLOG

8/18/13

LHDan:

Tristan:
Arsene Wenger's Father:
Take_It_To_The_Bank:

You don't die from work. I'd put my money on this being a drug related incident. Maybe the intern was taking adderall and OD'ed?

Doesn't have to be drug. Working too hard definitely plays a role here. I'm from China and for the past 4 years almost half dozen people died from working too hard at Big 4 and investment banking that were on the news

Why don't people just refuse to continue working at some point? I like to believe I am very ambitious, and pulling an all-nighter is not an issue I guess, but if my superiors ask me to work 60 hours in a row I'd sincerely tell them to go f*ck themselves. Everybody knows that working such kind of hours without sleeping is not brutal but just complete insanity.

There's a lot of pressure which leads you to not always make the best decisions. As a Summer Analyst you're trying your hardest to prove yourself worthy of a full-time offer and it can be easy to neglect your health and sanity.

also sometimes people think they can work harder when they're still young so when they get older they can work less

8/18/13
8/19/13

It is "OKAY" to say fuck off when your life depends on it.
This is sad news indeed.
RIP.

8/19/13

I am still shocked by seeing people not trusting this...I am telling you guys, saw the ambulance and police with my own eyes.

I remember times after a 130h-week, felt some heart arrhythmia, so people not in the industry please stfu.

8/19/13

Fuck... If this is true, it's horrible. How the fuck are people ending their comments with "lol"? Gtfo. If this news gets confirmed, I agree with rufiolove about blocking this thread.

Read my blog: Bateman Begins

In reply to Bateman Begins
8/19/13

I agree. Probably best to not only lock but also delete it. This would be very bad publicity for WSO, @WallStreetOasis.com

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

See my Blog & AMA

8/19/13

No it is the only source on the net commenting on this fact, post until it goes to press.

8/19/13
8/19/13

The number of brand new WSO users commenting on this thread is too damn high!

Read my blog: Bateman Begins

8/19/13

Doubled confirmed
German, 2nd year U who was found dead by his roommate
He was likely getting an return offer

8/19/13

wikileaks:

Doubled confirmed
German, 2nd year U who was found dead by his roommate
He was likely getting an return offer


It's on BBG
In reply to Fisherman
8/19/13

Can't find anything on the website. Are u talking about the terminal or Bloomberg TV

8/19/13

Moritz Erhardt

8/19/13

On bbg terminal - top trending news

8/19/13
8/19/13

magnum:

I am still shocked by seeing people not trusting this...I am telling you guys, saw the ambulance and police with my own eyes.

I remember times after a 130h-week, felt some heart arrhythmia, so people not in the industry please stfu.

You should probably get that checked out, because that is not normal.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."

In reply to Mr.
8/19/13

Thanks. Found it now. Wow very tragic.

8/19/13
8/19/13

People need to stop commenting on this thread. If you haven't worked these hours you should immediately shut up and refrain from commenting. Period.

To those who have worked a stint in banking or who are currently working who are commenting and laughing or criticizing you should likewise shut up.

Mods should consider locking this thread.

8/19/13

dr.schulz:

i don't see any incentive to spread such kind of "rumours". actually very sad to hear about this

i agree, all those chain letters etc. are of great value

If the glove don't fit, you must acquit!

8/19/13

Don't delete this thread, but sad news, Rest in Peace buddy.

if you delete this, then no one would've known. hopefully its a rumor, but if not :(

8/19/13

This is 100% true.

Really hope his family sues the shit out of BAML. What is it going to take for this industry to change?

8/19/13

If you're that tired, your body will automatically shut down and you'll fall asleep.

My guess is that he died from a mix of energy drinks, cocaine or some other stimulants.

8/19/13

If the glove don't fit, you must acquit!

8/19/13

companion:

If you're that tired, your body will automatically shut down and you'll fall asleep.

My guess is that he died from a mix of energy drinks, cocaine or some other stimulants.

sure are a lot of doctors on wso these days...

If the glove don't fit, you must acquit!

8/19/13

Article:

By Ben Moshinsky and Ambereen Choudhury

Aug. 19 (Bloomberg) -- Bank of America Corp. said a 21- year-old intern died one week before completing a summer program.

Moritz Erhardt, who was on a seven-week pre-graduate program in London, died Aug. 15, Bank of America spokesman John McIvor said by telephone today. The death is being treated as non-suspicious, a spokesman for the Metropolitan Police in London said in a statement.

"He was popular amongst his peers and was a highly diligent intern at our company with a promising future," Bank of America said its statement. "Our first thoughts are with his family and we send our condolences to them at this difficult time."

Erhardt was found unconscious at Claredale House, a student residential facility in East London. He was pronounced dead at the scene after being treated by paramedics, the police spokesman said, who declined to be identified, citing agency policy.

Erhardt was an exchange student at the University of Michigan's Stephen M. Ross School of Business and attended WHU - Otto Beisheim School of Management in Vallendar, Germany, according to his biography page on social network site seelio.com. In addition to Bank of America's investment banking division, he also said he had work experience at KPMG Consulting, Morgan Stanley and Deutsche Bank AG's corporate finance division.

He went to high school at Faust-Gymnasium in Staufen, Germany, where he excelled in math and tennis, according to the biography page. His hobbies included sports and politics, according to the profile.

Here to learn and hopefully pass on some knowledge as well. SB if I helped.

8/19/13

see above, sorry for dupe

In reply to That_Aston
8/19/13

can you link us to that story please?

8/19/13

@WallStreetOasis.com It's on the terminal only so far. Just read it myself.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."

8/19/13

Front page I'm guessing...this is something to be wary about - work is important, but your life is undoubtedly more important.

Calm down.

In reply to WallStreetOasis.com
8/19/13

Sorry, don't have link :(

Here to learn and hopefully pass on some knowledge as well. SB if I helped.

8/19/13

This is absolutely terrible to hear. My heart goes out to all of his loved ones, friends, family, and co-workers.

8/19/13

It is not a rumor, he is effectively dead.
(I'm in london)
Rumors are going crazy around circumstances, some say he was on a 3rd allnighter, some presume he had a heart attack.
Nobody knows shit but the fact that he was found dead by his room mate after not showing up to work.

Baml staff was briefed not to talk about it to the press.

8/19/13

Just for clarification, this is NOT confirmed. Unfortunately, the users that are "confirming" this story are some of the least trusted and have some of the worst SB:MS ratios on the site...which makes this even more suspicious.

We are in the process of fact checking with our sources in London, but again, this is very possibly a coordinated prank until we confirm otherwise.

Thanks,
Patrick

8/19/13

Well I feel like a dick. Definitely thought this was a troll thread at first.

Damn

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