JPMorgan boss Jamie Dimon issues stark warning after shock death of Green Beret financier Leo Lukenas who 'worked 100 hour weeks'

JPMorgan Chase's CEO Jamie Dimon announced a shift in company policy regarding workload management for senior bankers following the tragic death of Leo Lukenas, a Bank of America employee who passed away from a blood clot after working extensive hours. Dimon emphasized the need for senior bankers to be held accountable for their workload distribution, aiming to reduce the pressure on junior staff who often face overwhelming demands. He highlighted the common practice of senior employees offloading tasks onto junior workers, which he deemed unacceptable. In response to these concerns, JPMorgan has implemented measures to cap junior bankers' working hours at 80 per week, with exceptions monitored by human resources. Ryland McClendon, a long-time employee, has been appointed to oversee the welfare of junior workers, focusing on their well-being and success. This initiative reflects a broader trend in the financial industry, where firms are increasingly recognizing the need to address workload issues among junior staff. Lukenas, a former Green Beret, had expressed a desire to leave his demanding job due to the grueling hours and was considering a move to a smaller investment bank for a better work-life balance. His tragic passing has sparked discussions about the mental and physical health of employees in high-pressure environments. The financial sector has been grappling with these workload concerns for years, prompting some firms to adopt various strategies, including pay increases and workshops aimed at improving work-life balance. The changes at JPMorgan represent a significant step towards fostering a healthier work environment for its employees.