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Article

15 Sep 2010

Author:
Andrew Clark, Guardian [UK]

Goldman Sachs hit by lurid allegations of sex discrimination [USA]

...Goldman Sachs has been hit with a sexual discrimination lawsuit from three former female employees who claim the firm has a testosterone-driven culture of press-up contests on the trading floor, male-dominated golf outings and scantily clad escorts at an office Christmas party...[The lawsuit claims,] "The end result is that managers, whether based on conscious or unexamined bias, most often assign the most lucrative and promising opportunities, and 'seats', to men." The plaintiffs are Cristina Chen-Oster, a former vice-president in bond sales who worked for Goldman for eight years until 2005; Lisa Parisi, who was in asset management from 2001 to 2008; and Shanna Orlich, an analyst from 2007 to 2008 who alleges she was denied opportunities to become a trader...A Goldman spokesman said: "We believe this suit is without merit. People are critical to our business, and we make extraordinary efforts to recruit, develop and retain outstanding women professionals." [also refers to Nomura]