A former Green Beret died just a year into a grueling investment banking job at Bank of America, where associates say they work 100-hour weeks that leave them feeling sick.
Leo Lukenas III, 35, in New York City on Thursday for an ‘acute coronary artery thrombus,’ – a Disease that causes a blood clot to form inside a blood vessel of the heart.
The father of two and former member of the Army Special Forces moved into banking last summer in an attempt to “pursue new opportunities for his family,” according to loved ones.
The Brooklyn resident had reportedly recently worked on UMB’s $2 billion acquisition deal for Heartland Financial USA, Inc..
But while his death was officially attributed to “natural causes,” it has sparked claims from Wall Street workers who say conditions in the industry are unsustainable, particularly when it comes to solving a major problem.
Former Green Beret and Bank of America investment banker Leo Lukenas III, 35, died Thursday. He is survived by his wife and two children.
Lukenas is survived by his parents, his wife and his twin brother Les, who is also a Green Beret.
Lukenas appears in the photo with his mother.
Current and former investment bankers said Business Insider that Lukena’s death has generated concern within BoA and particularly among the lower ranks.
A junior banker at BoA said of Lukenas’ death: “I think what we would all want is some acknowledgment about what happened, and at least not completely dismiss the fact that it could have been work-related.”
Lukenas’ stepmother told DailyMail.com the family was “devastated” by the loss.
‘And at least start having those conversations about how they can make the working lives of junior bankers much better because it’s been needed for a long time. And I think, if anything, it’s gotten worse.
Lukenas was part of the Financial Institutions Group (FIG) team that advises banking clients on transactions, according to a source familiar with the situation.
A source told BI that the FIG team is particularly exhausting and that the recent departures added work to those who stayed.
The current BoA banker said there have been meetings following Lukenas’ death about the possibility of reduced hours and more opportunities to work from home.
A former BoA banker told BI he resigned last year after a period in which he regularly worked 100 hours a week without receiving burnout or burnout support.
They said: ‘There came a point where I would wake up and immediately feel like I needed to throw up… My mental health was really bad. “I felt very little supported by my team.”
Lukenas served as a Green Beret for a decade, according to his family.
A donation page was opened Tuesday in honor with a goal of $1,000,000. He is seen with his mother and her brother.
Bank of America previously said that “our goal is to do everything we can to support the family and our team, which is devastated.”
A Bank of America spokesperson declined to comment for this story when contacted Wednesday.
Former banker Christopher Perkins, co-founder of Veterans on Wall Street, has called for an investigation into Lukenas’ death.
“We are mobilizing the veteran community to help his family,” he wrote on LinkedIn.
“We are also watching you, Bank of America, and expect a transparent third-party investigation, complete accountability, and the full support of your family.”
Originally from California, he started in banking through the Veteran Associates Program.
On LinkedIn, he described himself as an “investment banking associate leveraging a decade of experience as a Green Beret leading high-performing teams in volatile, complex and ambiguous environments.”
Lukenas’ stepmother told DailyMail.com the family was “devastated” by the loss.
He is survived by his parents, his wife, his son and daughter, and his twin brother Les, who is also a Green Beret.
Les wrote on LinkedIn: “It is with deep sorrow that I share the passing of my identical twin brother. Leo was an extraordinary individual whose kindness, strength and spirit touched the lives of everyone he met.
Lukenas married his wife in 2015 at a Florida wedding
Les and Leo Lukena are pictured above. Both served as Green Berets.
‘I am grateful for the 35 years we spent together, side by side, from playing junior golf to earning our Green Berets. I hope his memory is forever cherished and that his legacy continues to inspire.”
TO donation page was opened Tuesday by the nonprofit group 51 Vets in honor with a goal of $1,000,000.
The page reads: ‘Leo Lukenas was a son, brother, husband, Green Beret and most importantly, father.
‘He spent more than a decade in Army Special Operations, deploying several times with the 1st Special Forces Group.
‘Leo was dedicated to everything he did, he never settled for good enough. He always led by example and held himself to the highest standards, prioritizing the success of the team and mission above himself. With the heart of a lion, Leo always fought to stand up for what was right.
‘Leo left the army to seek new opportunities for his family. Now, in memory of Leo, it is our duty to support his family just as he would have done for all of us.”