JPMorgan chief executive Jamie Dimon told investors in May that the bank was seeing “what can we learn” about the way its junior bankers work following the death of Bank of America associate Leo Lukenas. The banker’s death prompted renewed scrutiny of the brutal hours clocked by those on the lowest rung of the industry.
The Wall Street bank is so far leading the way on change. In September, it rolled out a cap on its juniors’ working weeks at 80 hours — if they’re not on a live deal — and has now also installed a senior banker to oversee the “well-being and success” of its analysts and associates.