Bank of America is shifting its approach to overseeing the workload and well-being of its junior bankers, a move aimed at addressing concerns about the intense pressure and long hours faced by young investment bankers. The bank’s efforts come after a series of tragic events involving young bankers who died under suspected stress-related conditions.
In an effort to prevent similar tragedies, Bank of America is introducing a new model for supervising junior investment bankers. Instead of relying on mid-level executives on one-year rotations, the bank will now assign senior bankers in permanent positions to oversee the workloads and development of younger staff.
The bank’s current chief resource officer (CRO) model has been criticized for its reliance on temporary personnel who may not be invested in the well-being of junior bankers. Bank of America is seeking senior bankers with strong leadership qualities, team management experience, and a passion for mentoring young executives.
As part of this overhaul, Bank of America will also provide support to employees who have had their roles reduced due to restructuring. Roughly 150 junior investment banking positions were cut, but most affected staff members were reassigned to new roles within the firm, such as financial analysis or strategic planning.
Bank of America’s goal is to create a better work-life balance for its junior bankers and provide them with the skills and experience needed to succeed in their careers. The bank’s new approach aims to build a more sustainable and supportive environment for young executives to grow and develop.
Source: https://fortune.com/2025/03/17/junior-bankers-bank-of-america-bofa-jefferies-dying-overdose-overwork