Bank of America Intern Dies After 3 All-Nighters: Sources
Moritz Erhardt reportedly suffered from epilepsy
By Evann Gastaldo, Newser Staff
Posted Aug 20, 2013 10:40 AM CDT
Updated Aug 20, 2013 12:49 PM CDT
This Tuesday, July 3, 2012, file photo shows a view of Bank of America headquarters in London's Canary Wharf financial district.   (AP Photo/Lefteris Pitarakis, File)

(Newser) – A 21-year-old intern at Bank of America in London had reportedly worked 72 hours straight when he collapsed in the shower and died, according to the Independent and other sources, which are citing Internet chatter. Moritz Erhardt "went home at 6am three days in a row," according to a poster on wallstreetoasis.com, where quite a few commenters discussed interns forced to work extremely hard at banks if they want to be offered a job. The German exchange student reportedly suffered from epilepsy; he was just a week away from finishing the summer internship. BAML (Bank of America Merrill Lynch) confirmed Erhardt's death, calling him "a highly diligent intern with a promising future."

"Interns can regularly clock up to 100 or even 110 hours a week, but people are fully aware that banking is hard work and the company constantly reminds you to manage upwards in order to not overheat," one former investment banker tells the Independent. "This is the first time I’ve heard of something like this happening and banking is a very close culture." BAML pays interns about $4,200 per month. In 2011, one intern described the "Magic Roundabout," when interns were taken home by taxi at 7am so they could shower, change, and immediately be taken back to the office. Business Week and the Wall Street Journal are reporting the death minus the focus on the reported all-nighters.

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Showing 3 of 45 comments
MeiMei03
Aug 27, 2013 3:05 AM CDT
Our first thoughts are with his family and we send our condolences to them at this difficult time. In this situation Bank of America will hire another employee to substitute this guy who passed away, this news is really shocking. Our life is unpredictable so we should be ready enough, like this guy he was popular among his peers and was a highly diligent intern at our company with a promising future. As a matter of fact we can't really tell our life span here in earth, so every detail of your life should be give a value to preserve good deeds and resources .
Lefty_Libby
Aug 21, 2013 7:43 PM CDT
In right wing America what is the only factor to consider for everything? MONEY.
viva_yo
Aug 21, 2013 9:14 AM CDT
Serfdom of the near future. Death is the new retirement. We need unions, oh hell yes, we do.