BAML looks to learn lessons from intern death
28 August 2013
Bank of America Merrill Lynch has convened a “formal senior working group” in response to the death of a London-based intern, which has prompted examination of the working culture of the City and the desirability of the sector as an employer.
Wed, 28 Aug 2013Bank of America Merrill Lynch has convened a “formal senior working group” in response to the death of a London-based intern, which has prompted examination of the working culture of the City and the desirability of the sector as an employer.
And a bank spokesperson has told The Guardian that the working group will in particular focus on “our junior population [i.e. staff]”.
The firm reiterated that it was “shocked and saddened” by the passing of 21-year-old German native Moritz Erhardt, adding: “Our immediate priority is to do everything we can to continue to support the Erhardt family, our interns and impacted employees at this extremely difficult time.”
It says: “We have also convened a formal senior working group to consider the facts as they become known, to review all aspects of this tragedy, to listen to employees at all levels and to help us learn from them.”
Interns based at the bank have chosen to continue their placements there following the death of Erhardt, in what was seen as a sign of how driven people are to break into the City, with Katerina Rudiger, head of skills and policy campaign of the Chartered Institute of Personnel and Development telling the Financial Times: “This kind of economic situation can mean they’re [interns] more open to exploitation or might go the extra mile, not even because it’s being asked of them but because they think that’s what they need to do.”
And a bank spokesperson has told The Guardian that the working group will in particular focus on “our junior population [i.e. staff]”.
The firm reiterated that it was “shocked and saddened” by the passing of 21-year-old German native Moritz Erhardt, adding: “Our immediate priority is to do everything we can to continue to support the Erhardt family, our interns and impacted employees at this extremely difficult time.”
It says: “We have also convened a formal senior working group to consider the facts as they become known, to review all aspects of this tragedy, to listen to employees at all levels and to help us learn from them.”
Interns based at the bank have chosen to continue their placements there following the death of Erhardt, in what was seen as a sign of how driven people are to break into the City, with Katerina Rudiger, head of skills and policy campaign of the Chartered Institute of Personnel and Development telling the Financial Times: “This kind of economic situation can mean they’re [interns] more open to exploitation or might go the extra mile, not even because it’s being asked of them but because they think that’s what they need to do.”
