Bank of America says it is stepping up its oversight of young bankers’ workloads, the firm’s latest change since the death of an employee working 100-hour weeks sparked an outcry across Wall Street.
The bank previously relied on midlevel employees on one-year rotations to assign work to its thousands of junior investment bankers. One of their responsibilities was supposed to be ensuring young bankers aren’t overworked. But the midlevel employees weren’t always provided incentive or equipped to enforce limits, according to people who work at the bank.