International banking giant Société Générale is loaded with hate-spewing bigots in at least one of its Manhattan offices, where a boss routinely harassed and ridiculed a gay underling and superiors turned a blind eye to it, a new lawsuit charges. Mourad Raji said in a discrimination lawsuit filed in Manhattan federal court Wednesday that his 18 months as a sales analyst at the French bank’s Park Avenue office included being repeated referred to as a “P.D.,’’ a French slur for gay men, and that he was eventually marginalized because he is gay. Raji in the suit also claims that his ex-supervisor, co-defendant Thomas Jacquot, said “Salut [Hi] P.D.” to him 30 to 40 times and routinely mocked him by saying, “I don’t understand why you don’t have a girlfriend.” Jacquot was also routinely “hostile towards” other employees “who he perceived as being gay,” the suit claims. [NYP]
Bonus Watch '12: Société Générale
The French bank has some very angry little mistmakers on its hands. "Societe Generale paid their 1st year investment banking analysts between 15k-50k in bonuses. Most juniors were furious, especially since this is 20-40% lower than Street. The firm is continually declining in the Americas within investment banking, and has reduced tremendous headcount over the past year. It relies heavily on trading revenues from derivatives, with very little resources dedicated to M&A, ECM, and DCM. In a period where other banks are cutting operations in the US, SocGen leads the pack in decline. In February 2012 head of CIB, Didier Valet, said that the firm would not compete with bulge brackets. Regardless of these negatives, SocGen continues to say that it is a top investment banking player. They are not, and juniors on Wall Street should know before entering into this trap."
Ex-Société Générale Trader Wants 5.7 BILLION Euros From Bank Because F*ck You, That's Why
And you can't ask for 5.7 bajillion euros.
Layoffs Watch '13: Société Générale May Or May Not Cut Jobs
Nothing has been finalized, though according to a spokesperson for the bank, anyone who'd like to take a little initiative and just would be helping the bank out big time.
Court Awards Jerome Kerviel 0.007991228% Of Damages He Demanded From Société Générale
The look on SocGen's face as a judge berated the bank for axing Kerviel probably made up for it.
Raj Rajaratnam's 2022 Family Reunion Is Gonna Be Pretty, Pretty, Pretty Awkward
Being sued by your brother for backpay while you're currently doing an 11 year stint in prison will have that effect.