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Tragic death of 30-year-old RBC associate in New York

Michael Bloom, a 30-year-old associate in Royal Bank of Canada's financial technology investment banking group, died last week.

Bloom, who only joined RBC in New York from Citi in May last year, is understood to have died in his sleep on Wednesday.

A graduate of Lafayette College, he previously spent six years in Citi's commercial and corporate banking group, also in New York City.

 

The cause of Bloom's death is not yet clear. In a message sent by RBC's head of US technology banking to Bloom's colleagues and seen by eFinancialCareers, Gurandiano said that it was "a very tough time" for everyone. "We will get through it together as a team and as a family.  If anyone is struggling or having a tough time, please feel free to reach out to me anytime," he added.

In a statement, RBC said, “We are extremely shocked and saddened by the passing of Michael Bloom. Our thoughts are with his family at this time. We have shared the tragic news with Michael’s colleagues in a manner that is consistent with our culture of care and respect.”

In 2013, Bank of America intern Moritz Erhardt died following an epileptic seizure after seemingly working 72 hours without sleep. In March 2021, junior bankers at Goldman Sachs complained that their health was suffering as a result of 100 hour working weeks. It's not clear whether long hours also contributed to Bloom's death, but RBC is generally thought to have shorter working hours than rivals: Wall Street Oasis put the average across the Canadian bank at 73 hours per week last year, compared to 87.5 at Goldman Sachs.

RBC said: “In a demanding industry, we have fostered a workplace which prioritizes the wellbeing of our employees. This is backed up by a number of policies and the full support of our leaders.”

Bloom's obituary describes him as "fun-spirited", "genuine," "thoughtful, generous, patient, and loyal," and a person who could "make a mean ragu, build a beautiful campfire, and ignite infectious laughter." He's survived by his wife Madeleine, who works in private credit. 

Bloom's family are asking for donations to his favorite charity, which provides soccer equipment to underprivileged Haitian children. $44k has been raised so far, including from his former colleagues. "Michael was a wonderful team member who was awesome to work with. He will be greatly missed," says Matthew Thomas, the managing director of the fintech investment banking team at RBC alongside his donation of $500.

Citi's corporate banking juniors have made their own group donation mourning Bloom's death and saying they will never forget his " infectious smile and laugh that would brighten the room even on the longest of work days."

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AUTHORSarah Butcher Global Editor
  • Sa
    Sara
    27 April 2023

    But many young people die these days ( whether they work in the IB or not) so why when non bankers dies - no noise and when the banker dies in his sleep , then it must be long hours and how IB is evil. But unfortunately, who will be paying taxes if private sector or bankers are that bad? lets all go on strikes and do this BS "work life balance" , by this means just leave office at 5pm sharp but your mental health is really not about long hours but underlying/unresolved ( in many cases) childhood traumas or issues ,if you really want to know the root cause of mental health issues. Some of neighbours dont work or work 16 hours, they are not having mental health issues because they work or worked long hours...

  • ph
    photobug56
    22 April 2023

    The culture in IB; be there very long hours including long waits in the super expensive coffee lines, eat poorly, drink a lot whenever you can, get pooped on by everyone above you, do the same to anyone below you, and show absolute disdain for people in areas like Ops, because IB flunkies think that they are some sort of gift from G.. Get badly overpaid while everyone outside IB and trading gets badly underpaid. It's a horrible, unhealthy world.

  • Fa
    Fast Eddy
    18 April 2023

    Come come now - healthy 30 year olds do NOT die in their sleep.


    I wonder what might have caused this premature death?


    I've got a mate who works for JP Morgan, MD level. 40's. Runner. Doesn't drink. Eats clean. Myocarditis. Guess what happened there.


    I play beer league hockey with a 35 year old recently retired from the pro leagues in Europe. Myocarditis. Guess what happened there.


    In my fitness centre there are maybe 15 instructors - ultra fit individuals all under 40. One had a heart attack - one had a stroke (while leading a spin class - hauled away by ambulance) - one has blood clots in her lungs and is unable to work/function. Guess what happened there.



  • An
    Anon3333
    17 April 2023

    there needs to be further investigation into this. Individuals at the firm have confirmed that he was working late nights leading up to this. RBC “working less” is a total misnomer and corporate rhetoric that is totally misaligned with the realities. As an RBC banker living with individuals working at bulge bracket banks, I am putting the same or more hours than my roommates. Working until 3-4am is the norm and we have zero leniency on showing up after 9am. RBC’s “culture bank” status is a marketing tactic and is misleading prospective candidates. If a similar report to Goldman’s report came out of here I wouldn’t be surprised

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