4 Apr 2022


Nightmare on Wall Street

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Academic level: University

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Fiduciary Trust Corporation International is one of the very few major entities whose women employees are not only over 50% but also in the higher echelons of management. The company started this concept in the mid-20th century when women employees were looked down upon. In this company, women are respected and given an opportunity to thrive and grow, which they have. Indeed, many women who have left Fiduciary Trust Corporation International for other companies have increasingly returned citing better working environment for women. They also fired women who complained about the notorious sexual harassment in the companies (Ligos, 2002) .

Salomon Smith (Salomon) and Morgan Stanley (Morgan) had however, adopted a different negative approach to their feminine employees; women were discriminated, denied promotions, and treated as lesser employees as compared to their male counterparts. Both Salomon and Morgan settled their lawsuits albeit without admission of wrongdoing and paid millions of dollars. Further, they committed themselves to provide anti-discriminatory training for their members of staff, create pleasant and comfortable working environment for women, and initiate independently monitored diversity programs (Ligos, 2002) .

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One of the major actions that would help curb gender based discrimination in these companies is to have gender balance in top management including the board of directors and in the human resource management department. Another means of curbing the same is affirmative action in both employment and promotion so that a pre-determined number of women will be guaranteed places every time there is a promotion or hiring exercise. Finally, the companies should take drastic and steep action against any employee found culpable for sexual harassment, including summary dismissal after thoroughly and anonymously investigating any cases reported. This will curb the runaway gender-related discrimination in this company and save them bad press and huge settlements cost in future.


Ligos, M. (2002). Nightmare on Wall Street. Understanding and managing diversity (2nd ed.). Upper Saddle River, N.J.: Prentice Hall.

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