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Article

16 Sep 2010

Author:
Jackie Zehner, vice chairman of Women’s Funding Network, in Bloomberg [USA]

Goldman Bias Suit Offers Wall Street an Opening

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..[T]his week...three women filed a lawsuit seeking class-action status against [Goldman Sachs]...As a former Goldman partner, I am upset by their accounts...I was the youngest woman and first female trader to hold that position [managing the fixed-rate trading desk]. I believe I was promoted because of both my profitability and my commitment to teamwork. It also helped that I was a woman. Although I had to deal with my share of bad-boy behavior, from both clients and Goldman men, whenever it crossed the line I always had a person to talk to about it. No issue was left unresolved...Goldman’s efforts to hire, retain and promote women were the most comprehensive on Wall Street...The lawsuit cites...Goldman statistics as evidence of gender discrimination...In fact, these numbers are among the best of any major Wall Street firm...If these numbers are as good as it gets, though, what are the major reasons to explain the low percentages? I tried to answer this question by leading the funding of a research paper...published last year...