A 28-year-old Jefferies banker who died late final month is suspected to have been the sufferer of an unintended drug overdose, The Put up has discovered.
Carter McIntosh, a junior tech banker who beforehand had executed stints at Goldman Sachs and Moelis, was found useless by a buddy at his Dallas residence on Monday, Jan. 27, in accordance with a police report obtained by The Put up.
The unidentified buddy had final seen the younger banker round 7 p.m. the earlier Saturday night, the report mentioned. On Monday at 11:05 a.m., the buddy gained entry to his residence for a “welfare check” with the assistance of constructing upkeep and located his lifeless physique.
5 minutes later, Dallas Cops arrived at McIntosh’s residence within the upmarket Bell Knox neighborhood, the report mentioned. They discovered McIntosh’s physique beneath a blanket on a sofa within the dwelling space. He was pronounced useless simply earlier than midday.
The report mentioned McIntosh’s demise was “an apparent accident.”
Police discovered “drug paraphernalia” on the scene. Investigators mentioned they had been probing a “possible overdose” and an alleged “history of illicit drug abuse.”
“A black dish containing a white powdery substance, a plastic bag containing a white powdery substance, and a rolled up 100 dollar bill were present in the kitchen area,” Dallas cops wrote within the report back to the health worker.
“Multiple cans of Zimo brand nicotine pouches were also present,” the report added.
Officers additionally cited an interview with McIntosh’s father, Scott, who mentioned that his son had been taking medicine for consideration deficit dysfunction, extra generally often known as ADD.
He advised police that he was unaware of “any illicit drug abuse, alcohol abuse or smoking.” Scott McIntosh didn’t reply to The Put up’s request for remark.
The identify of the drug discovered on the scene has been redacted by the town’s health worker, which is probing the reason for McIntosh’s demise.
A supply near the investigation mentioned a full post-mortem report won’t be launched till the outcomes of toxicology checks develop into obtainable in 4 to 6 weeks time.
Authorities haven’t but recognized the white substance that they discovered at McIntosh’s residence, however Adderall is a generally prescribed drug for these with ADD.
Additionally it is broadly utilized by stressed-out college students and employees in a number of fields, together with on Wall Road.
The Wall Road Journal reported in December how financiers had been grinding up and snorting capsules of the medicine to maintain up with their brutal working hours.
A Jefferies insider advised the Put up that its use was widespread on the agency, but additionally at rival banks throughout Wall Road the place staffers wrestle to maintain up with the business’s punishing workload.
“Tons of people at the bank take it,” the supply mentioned on situation of anonymity as a result of they weren’t approved to talk to the media.
A Jefferies spokesman declined to remark.
Mcintosh beforehand labored at Moelis and Goldman Sachs in New York as an analyst after graduating from Seton Corridor College with a level in finance.
The banker solely joined Jefferies in September 2023, in accordance with his LinkedIn profile, and labored on the agency’s know-how, media and telecoms crew.
His friends described him as “well-liked” with “a great sense of humor.”
Wall Road’s brutal working tradition was as soon as extra positioned beneath the microscope after the demise of Financial institution of America funding banker Leo Lukenas, 35, final yr from a blood clot.
Earlier than his demise, Lukenas had been in search of one other job as a result of he was pulling 100-hour weeks within the workplace.
Whereas there isn’t a proof that demise was linked to his work, JPMorgan moved to cap work weeks at 80 hours after the scandal.
However that very same month, Lazard CEO Peter Orszag gave an interview to Carlyle founder-turned-podcaster David Rubenstein during which he dismissed considerations about younger financiers affected by burnout.
“There are many professions where you can’t get around the effort part of it,” the previous Obama administration official mentioned, claiming the monetary companies large creates a “sense of excitement” for its newer hires.
He warned potential recruits {that a} high-flying Wall Road profession was not “make-work” — a time period for meaningless jobs created simply to maintain somebody busy.
