JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the May death of a Bank of America associate, CNBC reports.
Ryland McClendon will serve as Chase’s global investment banking associate and analyst leader in a memo sent this month. The memo specifically states that McClendon, a 14-year JPMorgan veteran and former banker who was previously head of talent and career development, would support the “well-being and success” of junior bankers.
The move shows how JPMorgan, the biggest American investment bank by revenue, is responding to the latest untimely death on Wall Street. Bank of America’s Leo Lukenas III died in May after reportedly working 100-hour weeks on a bank merger.
