Bloomberg recently reported that, in 2020, Goldman Sachs agreed to a more than $12 million settlement with a partner who had accused several executives, including CEO David Solomon, of making misogynistic comments.
According to people familiar with the matter, the Wall Street bank settled with the partner before she left the company in an effort to keep the allegations quiet. Goldman Sachs' General Counsel, Kathryn Ruemmler, disputed Bloomberg's report, claiming it contained factual inaccuracies. However, the bank declined to comment on the errors to which Ruemmler referred.
Where employees feel that speaking up about such concerns internally is either unwelcome or untenable, they are increasingly apt to speak out about them, externally.
Earlier this year, for instance, Jamie Fiore Higgins, a former Goldman Sachs Managing Director, published a memoir of her 17 years at the bank — "Bully Market: My Story of Money and Misogyny at Goldman Sachs" — in which she recounts a history of bullying and gender-based discrimination. “We strongly disagree with Ms. Higgins’ characterization of Goldman Sachs’s culture,” a spokesman for the firm has said.