New York banker died at 35, wanted new job with 100-hour week

According to a report, the 35-year-old Bank of America investment banker who died of a blood clot earlier this month was looking for a new job at another company because of the stress of working more than 100 hours a week.

Leo Lukenas III, a former soldier turned junior banker who worked in the Bank of America offices in midtown Manhattan, contacted a senior recruiter about a new job before leaving on May 2 in what the coroners called , died from acute coronary artery thrombus, Reuters reported reported on Wednesday.

Douglas Walters, managing partner at GrayFox Recruitment, told Reuters that Lukenas told him in mid-March that he wanted to leave Bank of America because of the demanding work hours.

GrayFox Recruitment is a company that specializes in placing people in financial industries such as investment banking and private equity.

Walters told Reuters that Lukenas, who left behind a wife and two young children, did not discuss health issues in their discussions about career options.

The former Green Beret told Walters that he thrived in a competitive culture and “would never say no to assignments,” Walters recalled.

But Lukenas also asked Walters if it was normal to work 110 hours a week.

Walters said he told Lukenas that it was unusual, even by Wall Street standards, to consistently work such long hours.

“He made a comment like, ‘Hey, I’m trading hours of sleep for a 10% pay cut,'” Walters said.

Lukenas said he doesn’t have enough time for his family, Walters added.

Walters said he worked with Lukenas to prepare an application for an associate position at a “boutique” investment bank in New York that Walters declined to name.

“I know (the bench) would have called him forward, and he and I had talked back and forth about it,” Walters said.

The Post has reached out to Bank of America for comment.

Lukenas’ death sparked intense backlash on social media, particularly among Wall Street employees who say a toxic culture that forces employees to work excessively long hours remains widespread.

Lukenas boss Gary Howe, who works as co-head of Bank of America’s financial institutions group, has deactivated his LinkedIn page after being inundated with angry messages from alleged bank employees.

Bank of America employees have taken to social media platforms such as Wall Street Oasis to discuss a possible strike as part of negotiations for better working conditions.

So far, workers have remained at their desks — in part because they fear retaliation for raising concerns about the toxic culture, sources told The Post last week.

A Bank of America spokesperson told The Post last week that the company does not intend to take disciplinary action against Howe.

There are also no plans to investigate complaints that junior bankers are being forced to work 100-hour weeks.

“We are very sad about the loss of our teammate. “We remain focused on doing everything we can to support the family and our team, especially those who worked closely with him,” the spokesperson told The Post.

Howe did not respond to multiple requests for comment.

A Bank of America spokesman declined to comment to Reuters when asked about Walters’ conversations with Lukenas and his long hours or job search.

According to Reuters, Lukenas’ wife and brother did not respond to phone calls, text messages and emails seeking comment.

51 Vets, a veterans nonprofit that helps organize donations for Lukenas’ family, declined to comment.

According to his LinkedIn page, Lukenas, a Brooklyn resident, was a Green Beret for more than a decade before being hired as a full-time employee by Bank of America last July.

Before his death, he had been working on a $2 billion merger that closed earlier this month.

Lukenas posted news of the deal between UMB Financial and Heartland Financial on LinkedIn days before his death.

He was a member of 51 Vets, a nonprofit organization dedicated to connecting transitioning and transitioning veterans from elite military communities with leading companies, according to its website.

“51 Veterinarians completely changed the course of my post-military career. “Excellent organization with an incredible mission,” Lukenas recently posted on LinkedIn.

A fundraiser for his family launched by 51 Vets has already raised $258,962 as of early Thursday afternoon, including $10,000 from hedge fund titan Bill Ackman.

“This was an organic campaign organized by our members,” Jordan Selleck, founder of 51 Vets, told The Post.

“This shows the pain in the veteran community and Leo’s reputation in the community.”

“On May 2, 2024, 51 Vets lost a father, a husband, a son, a Green Beret and a member,” the 51 Vets website states.

“Leo left behind a wife and two small children. Leo spent over a decade in Army special operations and deployed multiple times with the 1st Special Forces Group. He was dedicated in everything he did and never settled for good. He always led by example, held himself to the highest standards and placed the success of the team and the mission above himself.”

Wall Street has been struggling with the overload of young talent for years. Some companies have taken measures such as raising wages, holding workshops and banning work on Saturdays or regular weekends.

According to current and former employees, Bank of America is among the banks that does not allow junior bankers to work on Saturdays unless an exception is requested.

The bank reviewed its work culture in 2013 after an intern in London died of epilepsy after working all night.

A coroner, an independent judicial officer, determined that the intern Moritz Erhardt had died of natural causes.

Additional reporting by Lydia Moynihan and Josh Kosman