A former Green Beret died just a year after a grueling job at Bank of America, where employees say working 100 hours a week leaves them feeling ill.
Leo Lukenas III, 35, in New York City on Thursday of 'acute coronary thrombus, – a disease that causes the formation of a blood clot in a blood vessel of the heart.
The father of two and former Army Special Forces member turned to banking last summer in an effort to “pursue new opportunities for his family,” his loved ones said.
The Brooklyn native had reportedly recently worked on UMB's acquisition of Heartland Financial USA, Inc.
But while his death was officially attributed to “natural causes,” it has led to claims from Wall Street workers who say conditions in the industry are intolerable, especially when it comes to ironing out a major problem.
Former Green Beret and Bank of America investment banker Leo Lukenas III, 35, died Thursday. He is survived by his wife and two children
Lukenas is survived by his parents, wife and twin brother Les, who is also a Green Beret
Lukenas is depicted with his mother
Current and former investment bankers told the story Business insider that Lukena's death has raised concerns within BoA and especially among the lower ranks.
A junior banker at BoA said of Lukenas' death: 'I think what we would all like is some recognition of what happened, and at least not completely ignore the fact that it could be work-related.
“And to at least just have conversations about how they can make the working lives of junior bankers much better, because that's long overdue. And if anything, I believe it has gotten worse.”
Lukenas was part of the Financial Institutions Group (FIG) team that advises bank clients on deals, according to a source familiar with the situation.
Insider told BI that the FIG team is particularly tough and the recent departures have added work to those who remained.
The current BoA banker said that after Lukenas' death, there have been meetings about the possibility of reducing hours and more options for working from home.
A former banker at BoA told BI that he quit last year after a period of regularly working 100 hours a week without receiving support for exhaustion or burnout.
They said: 'It got to the point where I woke up and immediately felt like I was going 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 everything we can to support the family and our team, who are devastated.”
The bank will also pay for all staff attending the late banker's funeral, the bank said.
According to his family, Lukenas served as a Green Beret for 10 years
In honor of the donation, a donation page was launched on Tuesday with a goal of $1,000,000. He is seen with his mother and brother
A Bank of America spokesperson declined to comment for this story when contacted Wednesday.
Former banker Christopher Perkins, co-founder of Veterans on Wall Street, has called for an investigation into Lukenas' death.
“We are mobilizing the veteran community to help his family,” he wrote on LinkedIn.
“We are also watching you, Bank of America, and expect a transparent third-party investigation, absolute accountability and full support from his family.”
Originally from California, he started at the bank through the Veteran Associate Program.
On LinkedIn, he described himself as an “investment banking executive who leverages a decade of Green Beret experience and leads high-performing teams in volatile, complex and ambiguous environments.”
Lukenas' stepmother told DailyMail.com the family were 'devastated' by the loss.
He is survived by his parents, wife, son and daughter, and twin brother Les, who is also a Green Beret.
Les wrote on LinkedIn: 'It is with great sadness that I share the passing of my identical twin brother. Leo was a remarkable person whose kindness, strength and spirit touched the lives of everyone he met.
Lukenas married his wife in 2015 at a wedding in Florida
Les and Leo Lukena are pictured above. Both served as Green Berets
“I am grateful for the 35 years we spent together, side by side, from playing junior golf to earning our Green Berets. I hope his memory will be forever cherished and that his legacy will continue to inspire.”
a donation page was opened in honor Tuesday by the nonprofit organization 51 Vets with a goal of $1,000,000.
The page reads: 'Leo Lukenas was a son, brother, husband, Green Beret and, most importantly, a father.
“He spent more than a decade in Army Special Operations, deploying multiple times to the 1st Special Forces Group.
'Leo was dedicated to everything he did and never settled for good enough. He always led by example and held himself to the highest standards, putting the success of the team and the mission above himself. With the heart of a lion, Leo always fought to defend what was right.
“Leo left the military to pursue new opportunities for his family. In memory of Leo, it is now our duty to support his family, just as he would have done for all of us.”