Tragic cause of death of Jefferies banker Carter McIntosh who worked 100-hour weeks

Daily Mail​

08-05-2025

The cause of death for a Jefferies banker that worked 100 hours a week who was found dead in his Texas apartment has been revealed.
Carter McIntosh, 28, was discovered dead on his couch in his Dallas apartment on January 27, with police finding a 'white powdery substance' and a rolled-up $100 bill nearby.
The circumstances surrounding his death were mysterious, prompting local police to launch an investigation into a 'possible overdose.'
The Dallas medical examiner ruled his manner of death an accident from the 'toxic effects' of fentanyl and cocaine on Friday, according to Business Insider.
'Our hearts grieve for Carter and our sincere condolences to his family, coworkers, and friends. Carter is missed by many at Jefferies and beyond,' Jefferies CEO Richard Handler told the outlet.
Sources told the New York Post that the young Wall Street banker was pushing 100-hour weeks before his tragic death - with insiders revealing he was 'worked like a dog' with 'unsustainable hours' while juggling high-stakes multi-million dollar deals.
McIntosh worked at Jefferies as an investment banking associate for the firm's team covering technology, media and telecommunications.
He joined the bank in September 2023, and had previously worked as an analyst at Moelis & Co until June 2023.
Before that he was an equity research analyst at Goldman Sachs in New York City until the Spring of 2021.
McIntosh graduated from Seton Hall University in New Jersey with a bachelor's degree in finance a few years earlier.
The shocking discovery of his unsustainable workload put a spotlight on Wall Street's ruthless work culture.
McIntosh, who joined prestigious investment bank Jefferies after stints at Goldman Sachs and Moelis, was 'a grinder,' a source told The Post.
'He was a really hard worker and he was on a very difficult team in Dallas. They gave him a lot of s**t.'
The California native had been prescribed medication for attention deficit disorder (ADD), according to the police report.
That put into question whether he may have overdosed on Adderall - a stimulant notoriously used by bankers to cope with brutal schedules.
'Tons of people at the bank take it,' a Jefferies insider told The Post.
Multiple sources at Jefferies exposed a disturbing look into the life inside the Dallas office, where young bankers like McIntosh faced relentless pressure under managing directors Lawrence Chu and Nicholas Brown.
'The guys are kind of ruthless on that team,' one source revealed, calling the hours 'unsustainable.'
'You are working with increasingly difficult people who are going to give you s**t no matter what you send them,' one source said.
'These kids are geared towards blaming themselves rather than blaming the system. So they just work harder and sleep less, eat less, and work out less.'