Goldman Sachs Sued By Ex-Exec Claiming ‘Tradition of Bullying’

Goldman Sachs is being sued for roughly $1.1 million by a former government who claims he needed to work in a “dysfunctional” work setting that introduced upon psychological well being points and left him in “tears” all through his time with the financial institution.

The go well with was filed within the Excessive Courtroom of London by 55-year-old Ian Dodd, who labored as the pinnacle of world recruiting at GS Worldwide from November 2018 till he left in 2021.

Paperwork considered by the Monetary Occasions allege that Dodd was aware about a “tradition of divisiveness” and “tradition of bullying” throughout his time on the financial institution, the place he was made to “work extreme hours” and infrequently discovered himself “sobbing by way of conferences.”

The Goldman Sachs Group Inc. headquarters within the Metropolis of London, UK (Getty Photographs)

Dodd additionally claims he fell sick in 2019 earlier than leaving in 2021, however the paperwork did not specify whether or not his sickness was identified to be bodily or psychological.

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Goldman Sachs is denying the allegations, claiming that Dodd was “supplied with acceptable affordable recommendation and help” and that the financial institution was unaware that he had fallen sick.

“We consider these claims are utterly with out benefit,” Goldman Sachs instructed FT in a press release.

In latest months, rumored inner tensions throughout the firm have been made public.

In August, Bloomberg reported that Goldman was tightening its in-office mandate and making certain staff have been coming into the workplace 5 days per week, regardless of efforts to elongate summer time holidays and holidays by working remotely.

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The corporate is coming off of a troublesome Q2 2023, which noticed the financial institution hit a revenue lack of greater than 58%, the worst quarterly loss since 2020.

Goldman Sachs was down just below 1.7% year-over-year as of Wednesday afternoon.

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