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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.

Investment Banking Interview Course

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.

8/18/13

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.

8/19/13

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8/16/13

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8/18/13

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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

8/17/13

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

8/17/13

This is horrible. RIP.

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

8/23/13

Excellent point. +1.

"I like money (as do most females) but love is...great :)"-student quote
Winners bring a bigger bag than you do

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

that's awful.
rip...

8/17/13

SonnyZH:

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

This I can definitely believe...

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

Source??

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...

8/20/13

.

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

8/19/13

Matrick:

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 ...

this is kind of funny.. b/c it reminds me of..
a few years ago there was a suicide (few all nighters -> burn out -> then the analyst got chewed out for something, which quickly seemed like the end of the world given his mental state at the time) at Barc/Leh. a close friend's friend was in the same analyst class.

an email? message? went out from HR informing the MD's to not work the analysts too much. you know, especially the ones in the bullpen that watched the guy deteriorate -- and probably hear him get yelled at i.e. the last straw -- before he took his own life.
as a result, everyone in the analyst class got a weekend off. (woohoo!)

it's not worth it guys.

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

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."

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.

8/19/13

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.

8/18/13

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.

Investment Banking Interview Course

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

8/18/13

Link? I can't find one.

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

8/19/13

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

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

Guys name is Morris

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
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

Thanks. Found it now. Wow very tragic.

8/19/13

Bbg terminal

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."

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

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

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 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

can you link us to that story please?

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

see above, sorry for dupe

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.

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

Patrick. Find sbd w/ a Bloomberg terminal and search for this guys name under latest news.

8/19/13

Yeah, am on mine now and even under BIO segment he is listed as deceased. Really sad and story linked to his BIO page confirms it from story quoted by That_Aston.

People demand freedom of speech as a compensation for freedom of thought which they seldom use.

8/19/13

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

Damn

8/19/13

Family source of mine with connection to his university confirms that Moritz Erhardt died on Thursday. No cause of death was provided so far.

8/19/13

This article is on my Terminal. NSN MRSENW6KLVS8. RIP. Hopefully this has a lasting impact.

8/19/13

This is terrible. RIP

8/19/13

Article text. Bloomberg also has a screen capture of the social network profile:

Wire: Bloomberg News (BN) Date: Aug 19 2013 12:47:57
Bank of America Says 21-Year-Old London Summer Intern Dies (3)

(Updates with school comment in sixth paragraph.)

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 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.

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.

'Deeply Shocked'

"We are all deeply shocked and saddened," Peter Augustin, a spokesman for the German business school, said in an e-mail.

"At the moment, we do not yet know further details. What we can say is that Moritz was a wonderful person and a dedicated student."

In addition to Charlotte, North Carolina-based Bank of America's investment-banking division, Erhardt 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.

"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."

8/19/13

To be clear, all of this talk about "dying due to overwork" is not at all confirmed.

"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."

8/20/13

.

And so it goes

8/19/13

NorthSider:

To be clear, all of this talk about "dying due to overwork" is not at all confirmed.

8/19/13

NorthSider:

To be clear, all of this talk about "dying due to overwork" is not at all confirmed.

Not trying to be a dick, but you're coming off a little bit like Captain-Save-A-Bank in this thread.

No, correlation does not imply causation, but pulling three straight all-nighters and doing whatever it takes to make it happen and get your work done (and done right) will take a toll.

I had a friend of mine get an ulcer that really fucked him up from the stress and hours. People's health gets affected big time and senior people often really don't give a shit about anything other than if you turned their comments.

8/19/13

dupe

8/19/13

dupe

8/19/13

WallStreetOasis.com:

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

Patrick, here's the link (there's a BAML point of contact listed):

{NSN MRSENW6KLVS8 go}

Also, Moritz Erhardt is also listed on the MVP page, and his BIO says "Deceased".

8/19/13

...

8/19/13

Even though so many people have "confirmed" this, the number of users having 1-15 points commenting/confirming on this thread is suspiciously high. If this is a prank, it's beyond disgusting.

Read my blog: Bateman Begins

8/19/13

fuck this life, i know the kid. was my friend.
cant confirm the death, haven't heard from him for a while, he was in USA until recently... but i have seen some trustworthy websites publishing the story so i guess it is not some bs.

RIP

8/19/13

WallStreetOasis.com:

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

what dick would throw ms at patrick for trying to ensure legitimacy on his site???

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

8/19/13

TheKing:

NorthSider:

To be clear, all of this talk about "dying due to overwork" is not at all confirmed.

Not trying to be a dick, but you're coming off a little bit like Captain-Save-A-Bank in this thread.

No, correlation does not imply causation, but pulling three straight all-nighters and doing whatever it takes to make it happen and get your work done (and done right) will take a toll.

I had a friend of mine get an ulcer that really fucked him up from the stress and hours. People's health gets affected big time and senior people often really don't give a shit about anything other than if you turned their comments.

Sorry some of us are skeptical that an INTERN would be required to pull 3 straight all-nighters. The point Northsider was making is that you don't actually know the circumstances of the death. Hell, he may have simply pulled one and had some unfortunate complication. Three all-nighters is insane for anyone, let alone an intern with responsibilities more limited than those of his analysts and associates.

8/19/13

CAinPE:

Even though so many people have "confirmed" this, the number of users having 1-15 points commenting/confirming on this thread is suspiciously high. If this is a prank, it's beyond disgusting.

Probably because people are hearing the news (either on bloomberg or through the grapevine), googling it, and finding their way here - also because many people in the industry prefer to keep a low profile (and hence low post counts) on wso

8/19/13

...

8/19/13

This is potentially horrible. I find it believable. A few years ago an Associate at Skadden passed away from being overworked. So as sad as it may be I don't find this to be unrealistic.

http://abovethelaw.com/2011/06/in-re-the-passing-o...

Also, I think that as much as Associates/VPs can layer on work, it is the culture amongst the analysts that has to change. Site such as WSO perpetuate (and don't get me wrong WSO is great) this culture of people insinuating that you have to work insane hours to get offers/promoted/top bucket. Its an arms race amongst analysts and if everyone tapered back than everyone would benefit. I know plenty of people that didn't work themselves to death and crushed it. People need to stop thinking that pulling insane hours is a must/badge of honor and should only be done when 100% needed. Hopefully some good can come of this and the culture starts changing.

8/19/13

I didn't say anything before because I didn't want to be part of the craziness for obvious reasons, but since it's on bbg I guess there's no point anymore. It's been making the rounds through junior people's emails in London. I heard the story from 3 different people at other banks and I called a friend at ML who confirmed, so this is clearly true.

My thoughts are with the family. Poor kid. This is absolutely appalling.

8/19/13

Maximus Decimus Meridius:

x

Poor family. Wonder what the next steps are...

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.

8/19/13

SonnyZH:

Maximus Decimus Meridius:

I didn't say anything before because I didn't want to be part of the craziness for obvious reasons, but since it's on bbg I guess there's no point anymore. It's been making the rounds through junior people's emails. I heard the story from 3 different people at other banks and I called a friend at ML who confirmed, so this is clearly true.

My thoughts are with the family. Poor kid. This is absolutely appalling.

I'm guessing from your post you know more or less what the causes were for the kid?

I don't, and I don't think anyone does until the police does their job. But after hearing the story from different people and the death being confirmed I'm starting to believe all of it, but I shouldn't have said what I said, which is why I edited my post, I would appreciate if you edited yours...

8/19/13

Not the most trustworthy newspaper, but still: http://www.huffingtonpost.com/2013/08/19/moritz-er...

8/19/13

ke18sb:

This is potentially horrible. I find it believable. A few years ago an Associate at Skadden passed away from being overworked. So as sad as it may be I don't find this to be unrealistic.

http://abovethelaw.com/2011/06/in-re-the-passing-o...

Also, I think that as much as Associates/VPs can layer on work, it is the culture amongst the analysts that has to change. Site such as WSO perpetuate (and don't get me wrong WSO is great) this culture of people insinuating that you have to work insane hours to get offers/promoted/top bucket. Its an arms race amongst analysts and if everyone tapered back than everyone would benefit. I know plenty of people that didn't work themselves to death and crushed it. People need to stop thinking that pulling insane hours is a must/badge of honor and should only be done when 100% needed. Hopefully some good can come of this and the culture starts changing.

I agree with most of what you are saying...although I don't think WSO "glorifies banking" or insinuates anything, I think that is the reality that is out there. If you think you can duck out of a Summer Analyst stint early and still get a position nowadays, I hate to break it to you, but it's not the real world. That doesn't mean it's a good trend or that they SHOULD be doing back to back all nighters or working 100 hour weeks. I think the arms race you mentioned is very very real and can be dangerous when taken to extreme levels, but I don't think it is something that can be changed overnight (especially when there are people lined up ready to step in if you are not able to hack it)...

But right now we know very little about what actually happened here, so before we all jump to conclusions let's see if more comes to light about this sad story. Anyway, maybe this will serve as a reminder that you need to protect yourself from the potential health impacts of working 100+hours per week and when to draw the line and just say no.

I remember working 41 hours straight once and I was delirious at the end...I'm sure many of us on here have stories like this and while painful, they didn't result in such a tragic loss. Again, condolences to his family and friends.

8/19/13

WallStreetOasis.com:

ke18sb:

This is potentially horrible. I find it believable. A few years ago an Associate at Skadden passed away from being overworked. So as sad as it may be I don't find this to be unrealistic.

http://abovethelaw.com/2011/06/in-re-the-passing-o...

Also, I think that as much as Associates/VPs can layer on work, it is the culture amongst the analysts that has to change. Site such as WSO perpetuate (and don't get me wrong WSO is great) this culture of people insinuating that you have to work insane hours to get offers/promoted/top bucket. Its an arms race amongst analysts and if everyone tapered back than everyone would benefit. I know plenty of people that didn't work themselves to death and crushed it. People need to stop thinking that pulling insane hours is a must/badge of honor and should only be done when 100% needed. Hopefully some good can come of this and the culture starts changing.

I agree with most of what you are saying...although I don't think WSO "glorifies banking" or insinuates anything, I think that is the reality that is out there. If you think you can duck out of a Summer Analyst stint early and still get a position nowadays, I hate to break it to you, but it's not the real world. That doesn't mean it's a good trend or that they SHOULD be doing back to back all nighters or working 100 hour weeks. I think the arms race you mentioned is very very real and can be dangerous when taken to extreme levels, but I don't think it is something that can be changed overnight (especially when there are people lined up ready to step in if you are not able to hack it)...

But right now we know very little about what actually happened here, so before we all jump to conclusions let's see if more comes to light about this sad story. Anyway, maybe this will serve as a reminder that you need to protect yourself from the potential health impacts of working 100+hours per week and when to draw the line and just say no.

I remember working 41 hours straight once and I was delirious at the end...I'm sure many of us on here have stories like this and while painful, they didn't result in such a tragic loss. Again, condolences to his family and friends.


Interesting, that something good could come out of something so terrible.

RIP.

This could be it, sweetheart.

8/19/13

My thoughts go out to his family & friends.

Rest in Peace.

8/19/13

I totally agree. Also, when I said WSO, I don't mean the site so much as user generated content. My apologies, I should have made that more clear. The site itself is a great tool for the industry; however, I do think that a small share of user generated content tends glamorize the long hours and perpetuate the culture - that's just my opinion. Also, of course there are times when you need to grid it out, we've all been there, I'm more so referring to the late night face time when there is really no purpose and analysts feel they need to be there when really don't have much going on.

WallStreetOasis.com:

I agree with most of what you are saying...although I don't think WSO "glorifies banking" or insinuates anything, I think that is the reality that is out there. If you think you can duck out of a Summer Analyst stint early and still get a position nowadays, I hate to break it to you, but it's not the real world. That doesn't mean it's a good trend or that they SHOULD be doing back to back all nighters or working 100 hour weeks. I think the arms race you mentioned is very very real and can be dangerous when taken to extreme levels, but I don't think it is something that can be changed overnight (especially when there are people lined up ready to step in if you are not able to hack it)...

But right now we know very little about what actually happened here, so before we all jump to conclusions let's see if more comes to light about this sad story. Anyway, maybe this will serve as a reminder that you need to protect yourself from the potential health impacts of working 100+hours per week and when to draw the line and just say no.

I remember working 41 hours straight once and I was delirious at the end...I'm sure many of us on here have stories like this and while painful, they didn't result in such a tragic loss. Again, condolences to his family and friends.

8/19/13

The sad thing is that their really is nothing in this business that really, truly requires pushing people to work those kind of hours. Most of the 4 AM, 5 AM, 6 AM nights that I have had were caused by rediculous requests by seniors that could wait till tomorrow, unnecessary turns by seniors resulting in frivolous comments or a senior banker not having the balls to tell the client that 'first thing in the morning' is not always the most neccessary deadline.

I have worked for plenty of guys who have the competence and confidence to not require their junior folks to meet deadlines like this. Sadly, it looks like it cost this guy his life.

8/19/13

It's on HuffPost now, if anyone is still wondering whether it's true or not:
http://www.huffingtonpost.com/2013/08/19/moritz-er...

Currently: clinical psychologist (in training)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

8/19/13

Hours are imposed by seniors, not juniors, at least in london. Americans are crazy face time addicted work aholics at all levels, which is reflected on wso which is very American.

8/19/13

FormerHornetDriver:

The sad thing is that their really is nothing in this business that really, truly requires pushing people to work those kind of hours. Most of the 4 AM, 5 AM, 6 AM nights that I have had were caused by rediculous requests by seniors that could wait till tomorrow, unnecessary turns by seniors resulting in frivolous comments or a senior banker not having the balls to tell the client that 'first thing in the morning' is not always the most neccessary deadline.

I have worked for plenty of guys who have the competence and confidence to not require their junior folks to meet deadlines like this. Sadly, it looks like it cost this guy his life.

This is 1,000% fact. So many dumb requests with unnecessary turnaround times that absolutely crush your will. That, and it's always like "sure thing, we'll have it to you first thing in the morning, and we'll also do this, this, and this..."

Just unnecessary work all around that brutalizes people.

8/19/13

WallStreetOasis.com:

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

It is definitely not a prank.
I heard about it first saturday.

8/19/13

peinvestor2012:

Sorry some of us are skeptical that an INTERN would be required to pull 3 straight all-nighters. The point Northsider was making is that you don't actually know the circumstances of the death. Hell, he may have simply pulled one and had some unfortunate complication. Three all-nighters is insane for anyone, let alone an intern with responsibilities more limited than those of his analysts and associates.

Thank you for your sanity.

This is a ludicrous thread given the dearth of actual details. Not a single person on this thread has any idea whatsoever what happened in this situation. The fact that this has devolved into a woe-is-me spite-fest about IB is a testament to how blood-thirsty the world is for every last drop of sensationalism that can be squeezed out of every story.

Before we turn this tragedy into an emblem of the cruelty of IB hours, how about we - you know - actually wait to hear what happened. Before we start suggesting that people ought to sue or someone ought to be prosecuted, let's find out the circumstances. Not every death is a conspiracy.

By the law of large numbers, unfortunate deaths are bound to occur every so often among a group of thousands of 21 year-old interns around the globe. It sickens me that people insist on being so opportunistic. Just because someone died doesn't give you the authority to parade your own agenda under the guise of sympathy.

Here's to hoping that things are sorted out by the proper authorities and that the family gets the closure they deserve.

"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."

8/19/13

Reading the guys Seelio page is sad:

"Therefore, I really want to move something in life. Profound injustices and inequalities are a result of the
growing divergence in wealth. I want to contribute to build a fairer, more peaceful, more humane world
of greater solidarity. This may sound naive and presumptuous but I want to give it a try at the very least
even though I am likely to fail. That is what my character is all about. People discouraging me shall not
keep me from trying to fulfill my dreams and desires in life."

As a intern working in London, living in the same building as Moritz was, this news really is shocking to me. Kind of puts it all in perspective.

RIP.

8/19/13

FormerHornetDriver:
Sadly, it looks like it cost this guy his life.

Unless you have some undisclosed informant: No. It doesn't. Can we stop the hollow speculation in this thread?

"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."

8/19/13
8/19/13

No matter the cause, this is extremely sad. RIP.

"When you stop striving for perfection, you might as well be dead."

8/19/13

NorthSider:

FormerHornetDriver:

Sadly, it looks like it cost this guy his life.

Unless you have some undisclosed informant: No. It doesn't. Can we stop the hollow speculation in this thread?

what do you think happens? Police comes out saying it was/was not the consequence of long IB hours? Would that be the point when it's more that just "hollow speculation"?

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

8/19/13

dr.schulz:

what do you think happens? Police comes out saying it was/was not the consequence of long IB hours? Would that be the point when it's more that just "hollow speculation"?

What? I think everyone in this thread should wait for the police to disclose the cause of death before spewing vitriol that implicates other people as being a involved in and/or a key cause of this tragic death.

As per usual, we all love to bypass investigations, trails, etc. in favor of delivering our own groundless, factless judgments about who ought to be blamed. As if that somehow helps the situation.

"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."

8/19/13

I'm curious as to why you aren't getting frustrated with the posters who are commenting that it must have been drugs/caffeine/etc as the cause of the death but only with the posters who are commenting that it must have been the hours?

I agree with your point that everyone needs to wait to hear what happened, but it seems as though you are still siding with those who say it couldn't have been the bank's fault.

Why haven't you made a comment against the posters who think it was drugs/substance abuse like the one below you made against the posters who blame the bank:

"Before we turn this tragedy into an emblem of the cruelty of IB hours, how about we - you know - actually wait to hear what happened. Before we start suggesting that people ought to sue or someone ought to be prosecuted, let's find out the circumstances. Not every death is a conspiracy."

8/19/13

It is spreading:
http://www.dailymail.co.uk/news/article-2397527/Ba...Merrill-Lynch-intern-Moritz-Erhardt-dead-working-long-hours.html

8/19/13

socman:

I'm curious as to why you aren't getting frustrated with the posters who are commenting that it must have been drugs/caffeine/etc as the cause of the death but only with the posters who are commenting that it must have been the hours?

I agree with your point that everyone needs to wait to hear what happened, but it seems as though you are still siding with those who say it couldn't have been the bank's fault.

Why haven't you made a comment against the posters who think it was drugs/substance abuse like the one below you made against the posters who blame the bank:

"Before we turn this tragedy into an emblem of the cruelty of IB hours, how about we - you know - actually wait to hear what happened. Before we start suggesting that people ought to sue or someone ought to be prosecuted, let's find out the circumstances. Not every death is a conspiracy."

Because the people who are suggesting it was substance abuse aren't accusing people of being culpable for his death. Both are nothing more than idle speculation, but one has an impact on the people proximate to the situation.

How often in the age of the internet do we hear of people being wrongfully implicated by the media / bloggers / etc.? Do you remember the Boston bombings, when Reddit had already "discovered the identity of the bomber", whose likeness was spread throughout the internet only for it later to be reported that he had died months earlier? Or when the wrong Sandy Hook shooter was erroneously reported, whose Facebook photos were spread throughout the internet before he posted "I'm on a bus right now"?

Everyone needs instant answers, and everyone wants to get their piece of the drama. Unfortunately for those in close proximity to tragic circumstances, that means millions of internet sheep preemptively blaming you for something for which you were clearly not culpable.

Let me also remark that if those suggesting this was a drug-related death were posting rants lambasting the "drug culture", or pushing some political agenda about how we should have stricter controls on drugs, etc., I would be equally sickened. Opportunism is just unjustifiable in this situation.

"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."

8/19/13

magnum:

It is spreading:

http://www.dailymail.co.uk/news/article-2397527/Ba...

Fantastic. Here we go...

Commence an onslaught of half-baked journalism quoting anonymous first-time WallStreetOasis users as a source to scandalize a contextless event. Just wait until Reddit starts posting the names and email addresses of Erhardt's superiors. That way they can get thousands of hate mail messages before we have any information whatsoever re: cause of death.

This is precisely what I have been advocating against.

"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."

8/19/13

Since when have anonymous posters on WSO become credible sources of information for big media outlets?
Journalism nowadays disgusts me.

Currently: clinical psychologist (in training)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

8/19/13

chicandtoughness:

Since when have anonymous posters on WSO become credible sources of information for big media outlets?

Journalism nowadays disgusts me.

Everyone feels the need to be a part of the scandal. Therefore, everything that sounds newsworthy must involve a scandal. And anyone is a credible source of information. After all, you're just reported what was said on another website!

"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."

8/19/13

Agree with NorthSider. Despite all "reports" of over working, for all we know he could've slipped in the shower and hit is head. Very unlikely, but just as plausible as any other until we have real facts.

People demand freedom of speech as a compensation for freedom of thought which they seldom use.

8/19/13

Anihilist:

Agree with NorthSider. Despite all "reports" of over working, for all we know he could've slipped in the shower and hit is head. Very unlikely, but just as plausible as any other until we have real facts.

Exactly. All of this is equally plausible.

"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."

8/19/13

This is going to be interesting to see how the legal proceedings go from here. He might have signed some non trial clause, however I am pretty sure his parents will not settle out of court.

To those whom think you don't die because of work, tell that to all of those whom have died in active combat, have fallen to their deaths erecting buildings, etc. Before you open your mouths I would recommend you don't.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

8/19/13

heister:

This is going to be interesting to see how the legal proceedings go from here. He might have signed some non trial clause, however I am pretty sure his parents will not settle out of court.

Tally up another who assumes the bank is at fault.

To those whom think you don't die because of work, tell that to all of those whom have died in active combat, have fallen to their deaths erecting buildings, etc. Before you open your mouths I would recommend you don't.

What?? We're comparing investment banking to active military duty and high-rise construction work? No one is saying you "can't die because of work". In fact, long hours may very well have played a part in this unfortunate event! But until we have any information off of which to make some assessment, people on this thread are just feeding the controversy-thirsty press.

"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."

8/19/13

NorthSider:

heister:

This is going to be interesting to see how the legal proceedings go from here. He might have signed some non trial clause, however I am pretty sure his parents will not settle out of court.

Tally up another who assumes the bank is at fault.

To those whom think you don't die because of work, tell that to all of those whom have died in active combat, have fallen to their deaths erecting buildings, etc. Before you open your mouths I would recommend you don't.

What?? We're comparing investment banking to active military duty and high-rise construction work? No one is saying you "can't die because of work". In fact, long hours may very well have played a part in this unfortunate event! But until we have any information off of which to make some assessment, people on this thread are just feeding the controversy-thirsty press.

Assumption is a non factor, culpability is totally obvious. Could he have had underlying conditions? Sure.
Could he have taken drugs? Sure.
However there is no way the bank can totally deny any wrong doing and responsibility for working their interns harder than the Navy Seals do.

Also many posters on the 1st page said its impossible to die because of work. So yea, people do think its impossible to die because of work.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

8/19/13

heister:

NorthSider:
heister:

This is going to be interesting to see how the legal proceedings go from here. He might have signed some non trial clause, however I am pretty sure his parents will not settle out of court.

Tally up another who assumes the bank is at fault.

To those whom think you don't die because of work, tell that to all of those whom have died in active combat, have fallen to their deaths erecting buildings, etc. Before you open your mouths I would recommend you don't.

What?? We're comparing investment banking to active military duty and high-rise construction work? No one is saying you "can't die because of work". In fact, long hours may very well have played a part in this unfortunate event! But until we have any information off of which to make some assessment, people on this thread are just feeding the controversy-thirsty press.

Assumption is a non factor, culpability is totally obvious. Could he have had underlying conditions? Sure.

Could he have taken drugs? Sure.

However there is no way the bank can totally deny any wrong doing and responsibility for working their interns harder than the Navy Seals do.


Also many posters on the 1st page said its impossible to die because of work. So yea, people do think its impossible to die because of work.

Do you realize that you have absolutely no idea how he died? Because you don't seem to. Do you understand that it's possible he simply slipped in the shower? Would you find the bank culpable for that?

"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."

8/19/13

NorthSider:

heister:
NorthSider:
heister:

This is going to be interesting to see how the legal proceedings go from here. He might have signed some non trial clause, however I am pretty sure his parents will not settle out of court.

Tally up another who assumes the bank is at fault.

To those whom think you don't die because of work, tell that to all of those whom have died in active combat, have fallen to their deaths erecting buildings, etc. Before you open your mouths I would recommend you don't.

What?? We're comparing investment banking to active military duty and high-rise construction work? No one is saying you "can't die because of work". In fact, long hours may very well have played a part in this unfortunate event! But until we have any information off of which to make some assessment, people on this thread are just feeding the controversy-thirsty press.

Assumption is a non factor, culpability is totally obvious. Could he have had underlying conditions? Sure.

Could he have taken drugs? Sure.

However there is no way the bank can totally deny any wrong doing and responsibility for working their interns harder than the Navy Seals do.



Also many posters on the 1st page said its impossible to die because of work. So yea, people do think its impossible to die because of work.

Do you realize that you have absolutely no idea how he died? Because you don't seem to. Do you understand that it's possible he simply slipped in the shower? Would you find the bank culpable for that?

Do you have any idea what happens with extreme sleep deprivation? I'm guessing you have no idea. But random and total loss of consciousness is a common side effect. So lets say he loss consciousness while in the shower and fell and broke his neck. Well lets see, why would that have happened? Hmmm....?

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

8/19/13

heister:

Do you have any idea what happens with extreme sleep deprivation? I'm guessing you have no idea. But random and total loss of consciousness is a common side effect. So lets say he loss consciousness while in the shower and fell and broke his neck. Well lets see, why would that have happened? Hmmm....?

No, but I sure am glad I have you to inform me. You obviously already have your mind made up, despite the utter lack of information.

"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."

8/19/13

NorthSider:

heister:

Do you have any idea what happens with extreme sleep deprivation? I'm guessing you have no idea. But random and total loss of consciousness is a common side effect. So lets say he loss consciousness while in the shower and fell and broke his neck. Well lets see, why would that have happened? Hmmm....?

No, but I sure am glad I have you to inform me. You obviously already have your mind made up, despite the utter lack of information.


I have not made up my mind, nor does it personally affect me. I am just merely saying that this will more than likely be a major turning point in how banks can treat their employees.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

8/20/13

heister:

I am just merely saying that this will more than likely be a major turning point in how banks can treat their employees.

I am q