Jefferies isn't hiring for Carter McIntosh's job, but some social media posts look off
Following the death at the weekend of Carter McIntosh, a 28-year-old associate in Jefferies' telecoms media and technology (TMT) team, it's been suggested on social media that Jefferies immediately began advertising for a replacement. It didn't. Images circulating on social media showing an advertisement for a Dallas-based technology banking associate are understood to be fake.
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Jefferies is, however, advertising for technology banking associates in New York City. The vacancies were opened on January 7th and last year. They come with a salary in the range of $150k-$225k.
The cause of Carter McIntosh's death is under investigation. In a memo this week, Jefferies' chief executive Richard Handler and President Brian Friedman said they were in touch with Carter's family and "stand ready to support them in any way we can.”
Jefferies' Dallas technology team is understood to be run by Lawrence Chu, who was hired from Moelis & Co. in 2022 as global head of telecommunications and to build out the Dallas office. Nick Brown, another Moelis & Co. managing director, joined around the same time, to work on TMT deals based in New York. McIntosh joined Jefferies from Moelis in 2023.
McIntosh's death has caused indignation among young bankers across the industry, who continue to work long hours. Unconfirmed reports claim that McIntosh had been working "crazy hours" before his unexplained death at home last weekend.
The posting for McIntosh's job was used by critics to suggest the disposability of junior bankers who work themselves to ill-health or death. Critics of Jefferies have also pointed to a facetious comment on X from Jefferies' CEO Richard Handler on Saturday, in which he suggested a "spritzer top" for a phial of "analyst tears" in response to a meme on dressing appropriately for Davos. Handler was subsequently seen on Instagram at a party with clients in Miami, seemingly during this week's Global Alts Conference, which runs from the 27th January.
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