A 25-year-old Bank of America trader has died following a suspected cardiac arrest at a corporate event.
Adnan Deumic died suddenly on Thursday while playing a five-on-five football match at a tournament with bank colleagues.
The young trader, based in the bank’s London office, collapsed and received cardiopulmonary resuscitation, a source told the New York Post.
“The death of our teammate is a tragedy and we are shocked by the sudden loss of a popular young colleague,” a Bank of America spokesperson said.
“We are committed to providing our full support to Adnan’s family, his friends and our many employees who are mourning his loss.”
Adnan Deumic died suddenly on Thursday while playing a five-on-five football match at a tournament with bank colleagues.
The young trader reportedly collapsed and received CPR during a corporate event.
Deumic was based in the bank’s London office (pictured)
Deumic was under significant stress at work, where he had to handle transactions of up to $1 billion, the Post reported.
“He probably worked 11 to 12 hours a day and those hours were incredibly intense…he didn’t have time to get coffee,” the source told the publication.
Adding: “The stress he was under was far greater than any of the other analysts and he couldn’t take a day off.
“He was learning how to do all of this when he was very new to this business.”
According to the source, Deumic was unhappy with the bank, which he said was not treating him well, and he was trying to “get out of it.”
“He wasn’t happy, he was looking for other jobs,” the source said.
No connection has been made between Deumic’s work and the death, and no official cause of death has yet been announced.
This comes just two weeks after another Bank of America employee died from “acute coronary artery thrombus.”
Former Green Beret and Bank of America investment banker Leo Lukenas III, 35, died Thursday. He is survived by his wife and two children.
Lukenas is survived by his parents, his wife and his twin brother Les, also a Green Beret.
Lukenas is pictured with his mother
Lukenas served as a Green Beret for a decade, family says
A donation page was opened in honor Tuesday with a goal of $1,000,000. He is seen with his mother and brother
Leo Lukenas III, 35, died just a year after working at a grueling investment bank and looking for a new job because he worked more than 100 hours a week.
The father of two and former Army Special Forces member turned to the banking industry last summer in an attempt to “pursue new opportunities for his family,” according to those close to him.
The Brooklyn resident reportedly recently worked on UMB’s acquisition of Heartland Financial USA, Inc. for $2 billion.
Lukenas said in mid-March that he wanted to leave Bank of America because of the grueling schedules, Douglas Walters, managing partner at GrayFox Recruitment, told Reuters in an interview.
He reportedly expressed a desire to take a 10% pay cut in exchange for more sleep and was, at the time of his death, considering joining a small “boutique” investment bank which he hoped would offer better balance between professional and private life. .
Although Lukenas’ death has been officially attributed to “natural causes,” it has sparked claims from Wall Street workers who say conditions in the industry are untenable, especially when it comes to to solve a big problem.
Lukenas’ mother-in-law told DailyMail.com the family was “devastated” by the loss.
Current and former investment bankers told Business Insider that Lukena’s death had raised concerns within BoA and particularly among the junior ranks.
A junior banker at BoA said of Lukenas’ death: “I think what we would all like is some recognition of what happened, and at least not completely dismissing the fact that it could have been work related.
“And at least start having these conversations about how they can improve the working lives of young bankers, because it’s long overdue.” And I believe that, on the contrary, the situation has gotten worse.
Lukenas was part of the Financial Institutions Group (FIG) team that advises bank clients on transactions, according to a source familiar with the matter.
The insider told BI that the FIG team is particularly exhausting and that recent departures have added work to those who remained.
The current BoA banker said meetings were held after Lukenas’ death about the possibility of reducing hours and providing more work-from-home opportunities.
A former BoA banker told BI he resigned last year after a period in which he regularly worked 100 hours a week without receiving any help for exhaustion or burnout.
They said: “It got to a point where I would wake up and immediately feel like I needed to throw up… My mental health was really bad. I really didn’t feel supported by my team.
Bank of America previously said that “our goal is to do everything we can to support the family and our team, who are devastated.”
The bank also pays for staff to attend the late banker’s funeral, she said.
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