Banker hospitalized and diagnosed with failed pancreas after being forced to work 110-hour week: report

A banker who was reportedly forced to work a 110-hour work week was diagnosed with a failed pancreas and hospitalized alongside a colleague.

The claims have been made against Robert W. Baird, a privately held investment bank based in Milwaukee. Credit: Google Maps

At Robert W. Baird, a Milwaukee-based bank that touts a “no a-hole culture,” junior bankers say they were pushed to extremes — including 20-hour workdays, missed meals, and in at least one case, a complete physical breakdown.

One former employee reportedly collapsed at home and was later diagnosed with a failed pancreas, a crisis that doctors attributed to their brutal workload.

“Shortly after the banker ended up in the emergency room, they were fired for poor productivity,” the Wall Street Journal reported.

Another employee, who had previously voiced concerns to HR about the relentless pace, was also hospitalized after working extended hours. In both cases, sources said their health issues were triggered by the same crushing schedule.

A separate report paints an equally grim picture: “Junior bankers at Robert W. Baird, the century-old, privately held investment bank based in Milwaukee, Wis., said they were assigned 20-hour workdays and that they were scolded if they left their desks after pulling an all-nighter,” according to the Journal.

One ex-analyst said he got chewed out by his manager after leaving his desk for just 25 minutes to grab dinner — while working on a deal that had spanned an entire year and involved multiple all-nighters.

Bankers have been hospitalized due to the work hours. Credir: Kinga Krzeminska / Getty

The boss allegedly barked that the analyst should “never leave his desk for over five minutes without notifying him.”

At Baird, things reached a boiling point earlier this year when an anonymous post went viral on the Wall Street Oasis forum, per the New York Post.

“As an analyst and associate, you are treated as scum,” the post read.

The viral thread racked up hundreds of comments, many from Baird employees who echoed the accusations of overwork and mistreatment.

Another Reddit post soon followed, reiterating the same claim: “As an analyst and associate, you are treated as scum.”

In response, management at Baird scrambled to save face, hosting a town hall for the industrials team — one of the firm’s top-performing divisions. Junior bankers were encouraged to speak up.

“Management pledging to listen more,” according to the Daily Mail.

But some former employees weren’t convinced.

Despite promises of reform, “former employees with the industrials team reported that their bosses would regularly break rules that capped the number of hours the junior bankers were permitted to work each week — 80,” according to the Journal.

One “turning point” came when junior bankers were invited to a pizza party in Chicago — seemingly a reward for their hard work. Instead, they were told to improve their efficiency, despite already working around the clock.

“Ironically, it was framed as a thank you,” said one former employee. “Then it turned into a lecture about how we weren’t doing enough.”

The toll on Baird’s staff has been significant. At least two were hospitalized, over a dozen have quit since the start of 2024, and some said they feared speaking up out of concern they’d be seen as weak.

One name surfaced repeatedly in the anonymous posts: Aaron Haney. The mid-level banker was accused of routinely assigning punishing schedules — and was ultimately fired after the viral backlash.

“In the wake of the posts, Haney was terminated by the bank,” according to the Journal.

Still, others defended him. “Several analysts told the Journal Haney was well-liked and often worked as hard as his juniors.”

As of now, Baird has not issued a public response.

Featured image credit: Kinga Krzeminska / Getty