At Jefferies in Dallas, a 28-year-old member of a team of investment bankers died suddenly and unexpectedly. The case brings back memories of other cases from the previous year, which had sparked a broad discussion about the work culture in the industry.

The Jefferies Financial Group has informed the company's employees in a memo about the death of an employee of the technology team based in Dallas, Texas, as reported by the news agency «Bloomberg». The young man, who had worked as an investment banker at the institution since 2023, died at the age of 28.

The cause of death is still unknown and the authorities are investigating the situation, according to sources. The banker did not die at work, but outside the office, the sources added.

Support for the Family

In the memo, Jefferies CEO Rich Handler and President Brian Friedman emphasized their shock and great sadness over the death and offered the family «all possible support».

Accoring to a representative of the Dallas Police Department, the incident is being treated as an unexplained death.

Jefferies has expanded its Dallas office and employs about 50 people there.

According to the employee's Linkedin profile, he worked as an analyst at firms such as Moelis and Goldman Sachs before joining Jefferies. He graduated from Seton Hall University in New Jersey in 2018.

Stricter Rules and More Free Time

Last year, there were already two deaths of junior bankers at Bank of America, which highlighted the working conditions with up to 100 working hours per week. In response, the US bank tightened its rules and systems for recording working hours.

In fall last year, J.P. Morgan also imposed an upper limit of 80 working hours per week and also wants to allow time off at weekends.