Ex-employees say BTIG had a toxic party culture stuck in the '80s - Business Insider

A spokesperson for Blackstone described its funds' stake in BTIG as relatively small, adding that Blackstone is not a controlling investor. A spokesperson for Goldman Sachs declined to comment.

"What you have at BTIG is a bunch of vultures trying to steal each other's lunch money and very much a bully culture, and that bully culture came from the top," a former employee in the firm's San Francisco office who left the company within the last three years said, adding that the company's "dinosaur business model" — trading stocks, bonds, and other securities for clients, even as fees from making trades have plummeted — contributed to the high-stress...

Another former employee in New York who was at the company through 2018 said that after a female staffer was hired, workers circulated a poll about which male would be the first to approach the "beautiful" new arrival. The spokesperson also said "BTIG has LGBTQ+ employees," but declined to identify any or say whether the company has an affinity group for LGBTQ+ employees. Overall, the spokesperson said, BTIG has "more than 54 women in client facing roles," though she declined to say how many men were employed in comparable roles.

"It was not an objective to have a diverse population, and they did not seek out to elevate women or support women, or even people of color," said the person at BTIG until 2017. "It was not that kind of culture, and it was not that kind of firm," adding: "It was not a productive environment for women or people of color."

She believed that some female employees at BTIG who dated coworkers were singled out for special treatment. Some women "dated to get to the top to be favorable," the person told Business Insider.

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