Jefferies' 28-year-old banker died of toxic drug mix, report says

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The 28-year-old Jefferies Financial Group Inc. banker whose death earlier this year reignited discussion about Wall Street culture, was an accident caused by a toxic combination of drugs, according to a Dallas medical examiner.

Carter McIntosh died “as a result of combined toxic effects of fentanyl and cocaine,” the examiner said in an autopsy report seen by Bloomberg.

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McIntosh, an associate in the technology group at Jefferies based in Dallas, died in late January after being found unresponsive at home by a friend, according to the report. The incident, which police initially were investigating as an unexplained death, resurfaced debate about the long hours clocked by younger bankers and the impact on their wellbeing.

“Our hearts grieve for Carter and our sincere condolences to his family, coworkers, and friends,” Jefferies Chief Executive Officer Rich Handler said in an emailed statement Thursday. “Carter is missed by many at Jefferies and beyond.”

Shortly after McIntosh’s death, Handler had offered to support the firm’s junior bankers and encouraged staff to reach out to managers if they were struggling with the tragedy or feeling overloaded with work.

Handler also encouraged colleagues to respect the contributions from junior bankers and condemned what he called “venom being spewed on social media” following the incident, including threats.

McIntosh joined Jefferies in 2023 after previously working at firms including Moelis & Co. and Goldman Sachs Group Inc. as an analyst. He graduated from New Jersey-based Seton Hall University in 2018.