Adnan Deumic Bank of America trader, 25, dies of cardiac arrest amid claims he wanted out of financial outlet, faulting ‘abysmal’ management.
At what cost being the master of the universe? A 25-year-old Bank of America trader suddenly died Thursday – just two weeks after the death of Leo Lukenas III, a 35-year-old banker who had been working 100-hour work weeks at the financial juggernaut.
Adnan Deumic, who was based at the bank’s London office, was playing in a casual ‘five-a-side’ charity soccer tournament with other finance employees when he collapsed and was administered CPR.
No cause of death has been announced, while cardiac arrest is suspected.
New to the job and already involved with billion dollar deals
‘The death of our teammate is a tragedy, and we are shocked by the sudden loss of a popular, young colleague,’ a spokesman for Bank of America told the nypost. ‘We are committed to providing our full support to Adnan’s family, his friends and to our many employees grieving his loss.’
The Swedish-born trader was hired in 2022 and worked on the Credit Portfolio and Algorithmic desk.
Unlike Lukenas, Deumic worked closer to 60 hours a week – but his shift was highly stressful, a source told the nypost.
He was involved in trades worth as much as $1 billion some days despite his lack of experience, the source said.
‘He probably worked 11 to 12 hours a day and those hours were incredibly intense… he didn’t have time to get coffee,’ the source added.
‘The stress he was under was so much more than any of the other analysts… and he couldn’t take a day off. He was learning to do this all when he was very new to the job.’
Prior to Bank of America, Deumic’s LinkedIn profile lists internships at JPMorgan Chase & Co. and Nordic investment bank ABG Sundal Collier. Deumic was a graduate of Sweden’s Chalmers University of Technology.
There was no known immediate link to the banker’s death and that of his work commitments, with the Deumic having run a marathon in Spain last month, while played hockey in high school.
However, his affable nature hid a growing displeasure with the bank, the source said.
The ‘abysmal’ management didn’t treat him well or give him the bonus or the affirmation he deserved, according to the insider.
‘Desperate to get out’
It was enough to make Deumic ‘desperate to get out’ and find a similar job at another bank.
‘He was not happy… he was looking at other jobs,’ the source said.
Deumic was primarily motivated to make enough money so he could move back to Sweden to be nearer his friends, his family and his girlfriend — who had been visiting him this week, the person added.
People who knew Deumic said his colleagues are devastated.
‘He was one of the nicest guys on the floor,’ the source told the nypost. ‘The interns loved him because he was so open to helping other people even though there was no incentive to.’
Deumic’s death was the second to rock the bank this month. Lukenas, a former Green Beret, died from acute coronary artery thrombus. The married father of two worked in New York.
While Lukenas’ death was officially attributed to ‘natural causes,’ it has sparked claims from Wall Street workers who say the industry’s conditions are unsustainable, particularly when ironing out a big deal.
A former banker at BoA told Business Insider he quit last year after a period of time where he regularly worked 100-hour weeks while receiving no support for exhaustion or burnout.
They said: ‘It got to 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 unsupported by my team.’
Bank of America previously said ‘our focus is on doing whatever we can to support the family and our team, who is devastated.’
