Finance hasn’t had its #MeToo moment. Women say the culture of banking and a web of legal agreements keep harassment hidden
Three women who’ve had long careers in banking sat down for lunch together in Manhattan on the first Wednesday of the year. It didn’t take long before they asked one another the question: Why hasn’t the Harvey Weinstein effect hit finance?
After the movie mogul was accused last October of sexual harassment and assault, powerful men have been pushed out of jobs in the media, the arts, politics, academia, and the restaurant business because women spoke up to allege egregious behaviour. Something is different on Wall Street. While the #MeToo movement spreads far and wide, these companies have seemed practically immune.
Some bankers and executives will tell you that’s because the industry cleaned out bad behaviour more than a decade ago, after a string of lawsuits revealed what women were putting up with across top companies. That’s not the case, according to interviews with 20 current and former Wall Street women, who asked not to be identified describing personal experiences and observations.
Some say they’ve been grabbed, kissed out of the blue, humiliated, and propositioned by colleagues and bosses but have stayed quiet because of cultural and financial forces that are particularly strong in banking. They say they have a lot to lose by speaking out, no certainty about what they’d gain, and legal agreements that muzzle them.
Diese Geschichte stammt aus der 1 February, 2018-Ausgabe von Bloomberg Businessweek Middle East.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der 1 February, 2018-Ausgabe von Bloomberg Businessweek Middle East.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Golfing With The Enemy
Did Donald Trump's executives violate the Cuban embargo?
Super-Rich Syrians Wait for War's End
Actor, author, playwright. Gill Pringle tries her hand at unravelling the mystery behind this enigmatic multi-hyphenate
Pam Codispoti
The mastermind behind the industry-shaping Chase Sapphire Reserve Card sets her sights on banking
This Time It's The Economy
President Rouhani’s budget sets offprotests from people angry about unemployment and inflation
Saudi Prince Counts On Support Of Citizens
State-worker salary increases appeal to the people, but policy may throw the budget off track
Stalin's Legacy Is Choking The Ukrainian Economy
The government has resisted pressure to lift a ban on land sales, despite pressure from the IMF and investors
Catastrophe Bonds Survive A Stormy Year
The turbulence of 2017 couldn’t destroy a market for betting against disasters
Riding The West Bank's Credit Boom
Increased consumer lending is creating a bubble in the West Bank
You'd Be Crazy To Buy Pizza With Bitcoin
Speculative fervour makes the cryptocurrency clumsy for commerce
What If The President Loses His Party?
Trump has to figure out a way to work with Republicans in Congress, or the global economy may be at stake