Story 81
I started my career on Wall Street over 20 years ago, on the trading floor where all kinds of shenanigans would be reported. The guys who asked why you didn’t wear a skirt that day, the head trader who had to be reminded to look someone in the eyes when speaking, not at their chest, and the late nights the guys had with the “Bloomberg girls” you’d hear about. Back then, you’d also hear about people getting fired over this behavior.
At Citi, the culture of toxicity goes further (in fact, I wouldn’t mind being complimented on my attire after what I’ve had to put up with there). In two separate incidents, I witnessed male MDs berate women on calls. To the point of tears. When reported to HR, the HR partner for the business would respond, “oh you know him, that’s just how he is. Hahaha.” Except I’m not laughing. And this is how firms fail. Because even if these stories don’t “get out,” they drive out high performing men and women who prefer to operate in a professional environment where they are focused on business, not distracted by disrespect. They foster a culture of gossip and complacency. People at Citi take the title of MD to mean they are above the law. Rather, the title should come with higher expectations and should be stripped when someone behaves in a toxic manner because it’s not good for shareholder value.