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Bank of America Merrill Lynch released a statement on Friday announcing it will be reviewing the firm’s working practices after one of its interns was found dead two weeks ago.
Moritz Erhardt, a 21-year-old intern with Merrill Lynch, had reportedly been working for three nights in a row before he was found in his temporary London apartment on 15 August.
Although it has not been confirmed that his death was a direct result of his work, the bank released a statement on the incident.
“We are deeply shocked and saddened by the news of Moritz Erhardt’s death. Moritz Erhardt was popular amongst his peers and was a highly diligent intern at our company with a bright future.”
The Guardian reported Merrill Lynch has also commissioned “a formal senior working group to consider the facts as they become known” which would “listen to employees at all levels”.
A bank spokesperson also assured the public they will investigate “all aspects of working practices with a particular focus on our junior population”.
Erhardt’s death has highlighted the pressures faced by young employees in today’s highly demanding working culture.
“All-nighters are often worn as a badge of honour – it’s common for interns to brag in the morning about the long hours they’ve worked the night before,” Abdurahman Moallim, a recent intern at a multi-national bank, told The Guardian.
“Everybody wants to show they have what it takes to succeed in an industry which demands stamina.”
Scotland Yard has said they are not treating the death as suspicious.