A former Goldman Sachs executive has alleged that the investment bank fostered a “culture of bullying,” marked by frequent emotional outbursts and tears. Ian Dodd, who worked in the London office, is filing a £1 million lawsuit against Goldman Sachs, alleging that he experienced a mental breakdown during his tenure at the firm.
Dodd, 55, served as global head of recruiting at the bank from 2018 to 2021. In his lawsuit, he claims that the “dysfunctional” work environment during these four years contributed to his mental breakdown.
According to court documents obtained by the Financial Times, Dodd claims overwhelming work pressure caused his illness just a year after joining Goldman Sachs.
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It also alleges that it was common to see employees “openly express their distress” by crying and “sobbing during meetings.”
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He resigned from Goldman Sachs in 2021. In his lawsuit, he made accusations against the investment bank, alleging that it overworked him and required long hours from its employees, accusations the company had previously faced.
However, Goldman Sachs has refuted these claims.
“As in many workplaces, there were occasions when colleagues were upset, for various reasons (sometimes unrelated to work and sometimes related to work), but it is denied that such cases were frequent or habitual,” the bank said in a document.
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In its response, the bank also maintained that Dodd was under pressure to work and that no one was forcing him to work beyond normal hours.
Goldman Sachs stated, “If Mr. Dodd experienced pressure, it originated from within himself; it was not externally imposed. His excess hours were not due to any company requirement or expectation.”
This legal dispute arises in the wake of a New York Post report detailing the departure of a prominent Goldman Sachs executive during Marc Nachmann’s tenure as global head of the Asset and Wealth Management division, a role he assumed last October.
According to sources cited by The Post, Nachmann tried to manage his division unilaterally, which could lead to the alienation of some of the best talent.
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Source: vtt.edu.vn