“Would you trust a man who doesn’t trust himself to be alone with a woman with millions of dollars in investments or leading a major business division?”
Bloomberg set fire to Wall Street first thing Monday morning when it published an article highlighting how male bankers who are fearful of potential ramifications from the #MeToo movement have begun adopting a controversial strategy: “avoid women at all costs.” Interviews with more than two dozen Wall Street executives suggest that some male bankers are “walking on eggshells” – avoiding one-on-one meetings with female reports and altering business travel arrangements, among many other examples. One wealth adviser even said that hiring a woman these days is “an unknown risk.”
A quartet of former Goldman Sachs employees currently working for Mayor de Blasio has fired back, calling the reactions “sickening” and a major restriction on women’s ability to succeed on Wall Street. The letter was penned by former Goldman Sachs executive and current deputy mayor for housing and economic development Alicia Glen, along with three colleagues who also happened to be former Goldmanites.
“Men in these firms should be required to break bread with female colleagues -- especially the up-and-coming ones of whom the men in the article were so afraid,” they wrote. “Because so many major career conversations take place during casual interactions like grabbing a coffee or a beer or going to karaoke, it has never been more important to ensure women are ‘in the room where it happens.’”
They offered a few suggestions, including cross-gender mentorships and encouraging more respect for female leaders. They also made the business case for banks ridding themselves of men who are incapable of having dinner alone with a woman “without making fools of themselves,” calling them a financial and cultural liability. “Would you trust a man who doesn’t trust himself to be alone with a woman with millions of dollars in investments or leading a major business division?” they wrote.
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