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Private Banking “Attracts” Gay Bankers

GoldFinger

30 March 2006

The recent high profile case against a financial firm in the City of London for alleged discrimination against gay workers has highlighted the issue in the financial services sector. A recent Reuters report has warned that: “banks in the City of London risk a wave of gay discrimination claims unless they transform the City's testosterone-fuelled image and ‘laddish’ culture”. But in that same report an unnamed gay employee of a leading investment bank said: "Stereotypically, private banking was historically very open to gay people, while trading floors were not.” Can private bankers teach their counterparts in investment banking something new yet again?