Bank Review Vow After Intern Death
A top investment bank vowed to listen to staff of "all levels" as it launched a review into the death of a student on a summer internship programme.
Moritz Erhardt, 21, was a week from completing a coveted placement at Merrill Lynch's London offices when his body was found in the shower at his temporary accommodation.
The German student's death on Thursday sparked calls to overhaul the culture of punishingly long hours in the City of London.
Mr Erhardt, who is believed to have suffered from epilepsy, reportedly worked "all-nighters" during his placement.
Bank of America Merrill Lynch paid tribute to the "highly diligent" intern as it promised to examine "all aspects of this tragedy" today.
"We are deeply shocked and saddened by the news of Moritz Erhardt's death," a spokesman said.
"Moritz Erhardt was popular amongst his peers and was a highly diligent intern at our company with a bright future.
"Our immediate priority is to do everything we can to continue to support the Erhardt family, our interns and impacted employees at this extremely difficult time.
"We have also convened a formal senior working group to consider the facts as they become known, to review all aspects of this tragedy, to listen to employees at all levels and to help us learn from them."
The US bank has refused to be drawn on Mr Erhardt's working hours during the seven-week internship.
The student is believed to have been paid around £45,000 a year pro rata.
It is unclear whether his death was related to his work. Information is expected to be released in four to five weeks.
Representatives from Merrill Lynch are understood to have been in touch with Mr Erhardt's parents, from Staufen im Breisgau in south-west Germany.