A young student has died in mysterious circumstances while employed as an intern at a top investment bank – amid claims he was asked to work punishingly long hours.
The body of Moritz Erhardt was discovered on Thursday evening as he neared the end of a seven-week internship with the Bank of America Merrill Lynch’s investment bank division.
The 21-year-old – understood to be from Germany – had joined Merrill Lynch earlier in the summer hoping to forge a career with the firm.
Paid interns at the bank normally earn £45,000 a year pro rata - around £2,700 a month.
Yesterday it was claimed Mr Erhardt may have suffered a fit or seizure. However internet forum users said he may have been working ‘all-nighters’ during his stay with the company.
Many banks are known to encourage their young students to work late into the night and in the past there have been claims those keen to impress have put in long hours with very little sleep.
On one site, called wallstreetoasis.com, many posters insisted Mr Erhardt regularly worked long hours and added: ‘One of the best interns at BAML – three all-nighters, didn’t turn up, colleagues went to find him.’
Mr Erhardt had been living in the Claredale House student accommodation flats in Bethnal Green, East London. The apartments are rented out to hundreds of interns during the summer months.
Another poster on the wallstreetoasis.com site added: ‘It is absolutely true – he was found dead in the shower by his flatmate. Intern at BAML who went home at 6am three days in a row.’
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