JPMorgan to Cap Junior Banker Hours, BofA Monitors Workloads (1)

Two of Wall Street’s largest investment banks are rolling out measures that may ease junior bankers’ workloads amid complaints across the industry that weekly hours are increasingly creeping past 100.

JPMorgan Chase & Co. will limit junior banker hours to 80 per week in most cases, according to a person with knowledge of the matter. Exceptions may include extra work to complete live deals, the person said.

WATCH: Big banks look to lighten the work load for some junior bankers.

Source: Bloomberg

Bank of America Corp., meanwhile, is launching a new internal platform this month that will more closely monitor individual workloads, according to a person with knowledge of the plan. The firm ...