Goldman Sachs accused of culture of bullying that made staff ‘sob through meetings’


Simon Foy
Sat, July 15, 2023 

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Goldman Sachs

Goldman Sachs’ former recruitment chief has accused it of creating a “culture of bullying” that caused staff to “sob” through meetings and led to him having a mental breakdown.

Ian Dodd, who left the bank in 2021, claimed that Goldman employees frequently “express distress” by crying and that “sobbing through meetings” was common behaviour, according to documents filed in the High Court.

Mr Dodd also alleged that there was a “culture of bullying” at Goldman and that comments such as “take that as your first punch in the face” or references to staff members receiving a “slap” or “punch” were condoned.

Goldman has been accused in the past of having a gruelling workplace culture that demands staff work ultra-long hours.

Mr Dodd, who was global head of recruiting, is suing the Wall Street titan for £1m, alleging that the pressure to work excessive hours caused him to have a mental breakdown.

He alleged that senior managers at the bank ought to have known that he was becoming unwell, that he was at real risk of suffering a breakdown and that this was due to his work.

In its defence Goldman denied all of the allegations. The bank said: “If [Mr Dodd] felt pressure, it was self-generated; it was not imposed on him. If he did work excessive hours, this was not because it was required or expected of him.”

Known for their long hours culture, investment banks have tried to soften their image in recent years in an attempt to retain staff.

In 2021, junior Goldman bankers begged to work just 80 hours a week, after a leaked survey highlighted how “inhumane” expectations were leading to mental health issues among staff.

At the time, bosses at the bank said they would introduce new measures to ease the pressure, including potentially forgoing new business to help balance workloads.

Mr Dodd, who joined Goldman at the end of 2018, also claimed that expressions of “fearfulness” and complaints that staff were struggling to cope and sleep were commonplace at the lender.

In its defence, Goldman argued that Mr Dodd caused or contributed to his breakdown by failing to report to bosses that he was unwell and giving a false account to colleagues concerning his mother’s ill health and death.

It added that Mr Dodd “was not subjected to unreasonable work demands or required to work excessive hours. He was provided with appropriate support [and] had a variety of wellness resources available to him”.


Goldman Sachs declined to comment. Lawyers representing Mr Dodd were contacted for comment.