women

Citigroup agrees to another bias settlement

Mon, 07 Apr 2008 06:59:58 -0400

Citigroup is finding it hard to shake Smith Barney's "boom-boom room" image that has dogged its reputation. The latest: Smith Barney has agreed to pay $33 million to some 2,500 brokers, who alleged discrimination. The settlement also calls for changes in the way it awards bonuses and new accounts and to do more to promote women. A judge in San Francisco still has to approve the deal. While the suit fortunately lacked some of the lurid details of previous suits, it's indicative of some important issues that can determine success. One big issue was how promising accounts are doled out to brokers. It appears that most of the top banks are promoting their diversity effort--if only for PR purposes. Whether this will make any real difference for women and minorities remains to be seen.

For more:
- here's the article from the Independent

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Will crisis claim Wall Street's most powerful woman?

Mon, 24 Mar 2008 07:59:58 -0400

Portfolio magazine pronounced 42-year old Erin Callan the most powerful woman on Wall Street, the only one in the foreseeable future with a legitimate shot at someday running her firm, Lehman Brothers. But as CFO of a rumor-plagued shop, there's at least a chance that she won't survive the current crisis. A crashing tide topples lots of ships, men's and women's. Still, what a rise it has been for her. Born the daughter of a New York City cop, she graduated Harvard, and went on to become a star banker to hedge funds at Lehman, helping take the likes of the Blackstone Group public. She's a keeper all right; as long as her firm doesn't go all Bear Stearns on us.

For more:
- here's the Portfolio profile

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What to make of Goldman Sachs' new charity

Thu, 06 Mar 2008 06:59:58 -0500

Mighty Goldman Sachs unveiled an initiative that will spend about $100 million to educate women around the world on business matters. The program has recruited major U.S. and foreign universities to teach the curriculum, which could run anywhere from five weeks to nine months. According to the AP, it will become Goldman Sachs' biggest charitable donation. So what to make of it? It strikes me as a savvy marketing and PR move--a good opportunity to burnish the brand globally. While it also would be nice to launch a companion micro-loan type program, Goldman has found a worthy cause, one that surely will be appreciated by the women who will benefit. Who knows? Is the next Bill Gates a woman living in an underdeveloped country?

For more:
- here's the AP article

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